The Phoenix Strait Free Trade Accord
Intent
To eliminate and reduce tariffs within the Phoenix Strait in order to establish a Pan-Phoenix Tariff Free Zone.
To end the use of government subsidies for certain industries in order to foster an air of competition conducive towards comparative advantage in the exchange of goods and services.
To protect the rights of the worker in each individual nation, both to ensure the wellbeing of the people, but to ensure competitive equity amongst the nations of the Phoenix Strait.
To protect the intellectual property of patent holders in individual nations and prevent the exploitation of their inventions by other nations.
To lay the foundation for future economic cooperation along the Phoenix Strait and foster a strong and stable economic environment for the foreseeable future.
Article One: On Tariffs
Signatory nations shall slash all tariffs on foreign goods by a minimum of seventy percent of their current rates on all goods and services exchanged within the Phoenix Strait and originating in a signatory nation. Goods shall be considered to have originated from a nation if that good or service was produced within that nation.
Signatory nations shall work towards the complete abolition of all tariffs between their nations.
Signatory nations shall be barred from raising tariffs on goods originating in other signatory nations unless the nation in question violates this agreement.
Failure to comply with the above terms shall result in immediate expulsion from the Phoenix Strait Free Trade Accord.
Article Two: On Subsidies
Signatory nations shall strive to slash subsidies substantially upon the ratification of this treaty.
Signatory nations should strive to completely eliminate all non-essential subsidies in order to foster competitive equity in Pan-Phoenix trade.
Each signatory nation has a right to designate several industries as Protected Industries. Protected industries may be subsidized by respective signatory nations by any sum necessary to prevent industry collapse.
Should a signatory fail to accomplish a reduction in subsidies in a timely manner, they shall be subject to immediate expulsion from the Phoenix Strait Free Trade Accord.
Article Three: On the Rights of the Worker
Signatory nations shall be obligated to protect the right of all private sector employees to form a trade union.
Signatory nations are heavily encouraged to establish a series of workplace safety regulations and income standards for workers within their nation.
Failure to protect the right to unionize shall result in the expulsion of that signatory nation from the Accord.
Article Four: On Intellectual Property
Each signatory nation's patent holder shall have an exclusive right to any intellectual property, excluding that in the public domain, recognized by their nation of citizenship.
Signatory nation's are heavily encouraged to observe the intellectual property and patents held by other nations.
Should two nations claim access to the same intellectual property, they are highly encouraged to resolve the matter diplomatically. In the event that no agreement can be made, each nation has the right to ban any product or service from the other that violates one of their domestic intellectual properties.
Article Five: On Future Cooperation
Signatory nations are highly encouraged to ratify individual trade deals to further promote the freedom of exchange of goods and services.
Should any signatory take issue with the terms of this agreement, they may notify the signatories of this document and seek to assemble a conference to review and amend the document.
