Equatorial Trade Forum: Difference between revisions
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The '''Equatorial Trade Forum''' (ETF) ({{wp|Malagasy Language|Nylele}}: ''Forum Ara-barotra Ekoatorialy''), commonly abbreviated with in Nylele as '''Foareko''', is a {{wp|Ajax|Malaioan}} {{wp|trade bloc}} founded in 1988 by [[Daobac]] and [[Pulau Keramat]]. The two nations had grown frustrated with the [[Association of Ozeros Nations]]'s (AON) lack of interest and political willpower for further economic integration in the region. As a result, Daobac and Pulau Keramat established Foareko as a separate organization from the AON with the express purpose to promote and foster economic and financial cooperation amongst its member states. Two key components of the bloc include a {{wp|free trade agreement}} (FTA) as well as a {{wp|standardization|standardization program}} known as the Equatorial Standard Guidelines (ESG), both of which are fully adopted and implemented by its members. Full members of Foareko include its two founding members and has expanded to include [[Kajera]] and [[Onekawa-Nukanoa]]. Associate members of the bloc include [[Pulacan]] and [[Zanzali]], both of whom has partially adopted or implemented sections of either, or both, the FTA or ESG. All of the bloc's governing agencies are headquartered in the city of Congvat, Daobac. Statistics show that Foareko's full members have a combined total population of 184,062,741 people, encompasses an area of 1,828,032 km<sup>2</sup> (705,807 sq mi), total GDP of $4.834 trillion and a GDP per capita of $26,267, making it one of the largest trade blocs in the {{wp|Ajax|world}}. Structurally the bloc is divided into four main agencies, each of which are responsible for certain aspects of Foareko: the Quarum, Council, Secretariat and Committee. Heads of go vernment from all members of Foareko meet once a year in an event known as the Foareko Summit, held in the capital city of one of the bloc's full member states. The selection process of the host city is done so on a rotational basis, ensuring that all member states are given the opportunity to host the penultimate gathering. Some politicians and experts have floated the idea for closer economic integration for Foareko such as the adoption of a {{wp|customs union}} and eventually a {{wp|single market}}. However since doing so implies the surrendering of some of its member states sovereignty, this idea has not been seriously discussed in any Foareko Summits. | The '''Equatorial Trade Forum''' (ETF) ({{wp|Malagasy Language|Nylele}}: ''Forum Ara-barotra Ekoatorialy''), commonly abbreviated with in Nylele as '''Foareko''', is a {{wp|Ajax|Malaioan}} {{wp|trade bloc}} founded in 1988 by [[Daobac]] and [[Pulau Keramat]]. The two nations had grown frustrated with the [[Association of Ozeros Nations]]'s (AON) lack of interest and political willpower for further economic integration in the region. As a result, Daobac and Pulau Keramat established Foareko as a separate organization from the AON with the express purpose to promote and foster economic and financial cooperation amongst its member states. Two key components of the bloc include a {{wp|free trade agreement}} (FTA) as well as a {{wp|standardization|standardization program}} known as the Equatorial Standard Guidelines (ESG), both of which are fully adopted and implemented by its members. Full members of Foareko include its two founding members and has expanded to include [[Kajera]] and [[Onekawa-Nukanoa]]. Associate members of the bloc include [[Pulacan]] and [[Zanzali]], both of whom has partially adopted or implemented sections of either, or both, the FTA or ESG. All of the bloc's governing agencies are headquartered in the city of Congvat, Daobac. Statistics show that Foareko's full members have a combined total population of 184,062,741 people, encompasses an area of 1,828,032 km<sup>2</sup> (705,807 sq mi), total GDP of $4.834 trillion and a GDP per capita of $26,267, making it one of the largest trade blocs in the {{wp|Ajax|world}}. Structurally the bloc is divided into four main agencies, each of which are responsible for certain aspects of Foareko: the Quarum, Council, Secretariat and Committee. Heads of go vernment from all members of Foareko meet once a year in an event known as the Foareko Summit, held in the capital city of one of the bloc's full member states. The selection process of the host city is done so on a rotational basis, ensuring that all member states are given the opportunity to host the penultimate gathering. Some politicians and experts have floated the idea for closer economic integration for Foareko such as the adoption of a {{wp|customs union}} and eventually a {{wp|single market}}. However since doing so implies the surrendering of some of its member states sovereignty, this idea has not been seriously discussed in any Foareko Summits. | ||
== Overview == | == Overview == | ||
The Foareko was established in response to the [[Association of Ozeros Nations]] lack of willingness to coordinate economic integration amongst its member states. Many proposals related to economic growth & development of the AON, such as free trade agreements, put forward by both Daobac and Pulau Keramat were voted down by narrow margins, mostly from the eastern members of the AON who were opposed to further integration of the organization. As a result members of the Daoan and Pulaui government came to see the AON's function's as a discussion forum to promote {{wp|international development}} and political stability to maintain the geopolitical status quo of the Ozerosi region. Foareko was founded with some degree of closer integration amongst its member states, but at the same time it does not bind its members into a permanent union. The structure of the bloc, its key institutions and treaties were all made to reflect these values. It helps facilitate trade negotiations amongst its member states, advises member states on sound economic and monetary policies, and when asked to do so; the bloc may negotiate international trade agreements with foreign nations on behalf of its member states. Member states are free to establish and pursue their own economic ventures outside of the ETF so long as they do not conflict with a member state’s existing commitments with the bloc. | The Foareko was established in response to the [[Association of Ozeros Nations]] lack of willingness to coordinate economic integration amongst its member states. Many proposals related to economic growth & development of the AON, such as free trade agreements, put forward by both Daobac and Pulau Keramat were voted down by narrow margins, mostly from the eastern members of the AON who were opposed to further integration of the organization. As a result members of the Daoan and Pulaui government came to see the AON's function's as a discussion forum to promote {{wp|international development}} and political stability to maintain the geopolitical status quo of the Ozerosi region. Foareko was founded with some degree of closer integration amongst its member states, but at the same time it does not bind its members into a permanent union. The structure of the bloc, its key institutions and treaties were all made to reflect these values. It helps facilitate trade negotiations amongst its member states, advises member states on sound economic and monetary policies, and when asked to do so; the bloc may negotiate international trade agreements with foreign nations on behalf of its member states. Member states are free to establish and pursue their own economic ventures outside of the ETF so long as they do not conflict with a member state’s existing commitments with the bloc. In spite of its lack of deeper economic integration many experts have pointed out that the Foareko indirectly promotes deeper economic ties amongst its member states and it is in its member states interest to do so. The Foareko Free Trade Agreement (FTA) is one of the largest in the world and the presence of the Foareko gives smaller nations such as Daobac and Kajera more voice when negotiating with non-Foareko states. The Equatorial Standard Guidelines For around three years since its establishment Daobac and Pulau Keramat were the Foareko's only members, however it gradually expanded to include new full members as well as associate members. Kajera became the Foareko's third full member in 1993 whereas Onekawa-Nukanoa eventually joined to become its fourth full member in 1996. Both [[Zanzali]] and [[Pulacan]] expressed their interest in joining the Foareko and became associate members of the bloc on 1999 and 2004 respectively. | ||
== Structure == | == Structure == | ||
=== Foareko Quorum === | === Foareko Quorum === | ||
| Line 93: | Line 93: | ||
=== Foareko Committee === | === Foareko Committee === | ||
== Membership == | == Membership == | ||
== | == Pillars == | ||
=== Foareko Free Trade Area === | === Foareko Free Trade Area === | ||
The Foareko FTA (FFTA) is a {{wp|free trade agreement}} amongst its member states established to support local trade and manufacturing amongst all Foareko countries, its immediate neighbors and the rest of the international community. The Foareko FTA is considered as one of the largest and most important trade areas of the world, due the large combined total GDP as well as the strategic geopolitical location of its member states that occupies the Kayatman, Ozerosi and Karaihe seas. The primary purpose of the FFTA is to increase Foareko's competitive edge in the world market by the elimination of tariffs and non-tariff barriers and to attract more {{wp|foreign direct investment}} for its member states. A key element in the FFTA is the {{wp|rules of origin}} policy which governs that only goods that were produced or manufactured entirely within Foareko countries are eligible to be included in the FFTA. This encourages FFTA countries to invest and improve their domestic production base rather than outsource them abroad. The FFTA encompasses almost all types of goods including: | |||
* {{wp|Fast-Moving Consumer Goods}} | |||
* {{wp|Durable Good|Durable Goods}} | |||
* {{wp|Luxary Goods}} | |||
* {{wp|Capital Good|Capital Goods}} | |||
* {{wp|Intermediate good|Intermediate Goods}} | |||
* {{wp|Common Good|Common Goods}} | |||
The FFTA however does not enforce a common external tariff for goods and services imported by Foareko's member state, which means each member state are free to impose their own tariffs and quotas on imported goods from non-Foareko countries. There is however {{wp|unspoken rulesome level of understanding}} amongst Foareko countries to impose similar levels of tariffs and quotas to imported goods in order to reduce the risk and consequences of foreign nations utilizing the lack of a uniform set of quotas & tariffs in Foareko countries. There is also a list of goods that are exempted from the FFTA, these typhically are sensitive goods related to national security or those from small local industries. Currently the FFTA excludes the following goods: | |||
* Unprocessed {{wp|fish products}} | |||
* Hardware & technologies related to {{wp|aerospace engineering|aerospace}}, {{wp|environmental engineering|environmental}} and {{wp|chemical engineering|chemical}} engineering. | |||
=== Equatorial Standard Guideline === | === Equatorial Standard Guideline === | ||
== See also == | == See also == | ||
Revision as of 11:05, 1 February 2023
 | This article is incomplete because it is pending further input from participants, or it is a work-in-progress by one author. Please comment on this article's talk page to share your input, comments and questions. Note: To contribute to this article, you may need to seek help from the author(s) of this page. |
Equatorial Trade Forum | |
|---|---|
 Flag
 Emblem
| |
| Motto: Mitovy daholo ny zavatra hafa rehetra All things being equal | |
Logo | |
 Member states shown in dark green. Associate members in light green | |
| Secretariat | Congvat |
| Largest city | Tau Harimua |
| Lingua Franca | Nylele |
| Official languages of member states | |
| Membership | Full members
Associate members |
| Leaders | |
• Presidency of the Quorum |  Kajera |
• Speaker of the Council |  TBD |
• Secretary-General |  TBD |
• Chairperson of the Committee |  TBD |
| Establishment | |
• Nhivaran Protocol | 27 October 1985 |
• Treaty of Congvat | 15 February 1988 |
• Free Trade Agreement | 5 July 1990 |
| Area | |
• Total | 1,828,032 km2 (705,807 sq mi) |
| Population | |
• 2022 estimate | 184,062,741 |
• Density | 100.7/km2 (260.8/sq mi) |
| GDP (nominal) | 2022 estimate |
• Total |  $4.834 trillion |
• Per capita | $26,267 |
| Gini |  25.5low |
| HDI (2022) | 0.887 very high |
The Equatorial Trade Forum (ETF) (Nylele: Forum Ara-barotra Ekoatorialy), commonly abbreviated with in Nylele as Foareko, is a Malaioan trade bloc founded in 1988 by Daobac and Pulau Keramat. The two nations had grown frustrated with the Association of Ozeros Nations's (AON) lack of interest and political willpower for further economic integration in the region. As a result, Daobac and Pulau Keramat established Foareko as a separate organization from the AON with the express purpose to promote and foster economic and financial cooperation amongst its member states. Two key components of the bloc include a free trade agreement (FTA) as well as a standardization program known as the Equatorial Standard Guidelines (ESG), both of which are fully adopted and implemented by its members. Full members of Foareko include its two founding members and has expanded to include Kajera and Onekawa-Nukanoa. Associate members of the bloc include Pulacan and Zanzali, both of whom has partially adopted or implemented sections of either, or both, the FTA or ESG. All of the bloc's governing agencies are headquartered in the city of Congvat, Daobac. Statistics show that Foareko's full members have a combined total population of 184,062,741 people, encompasses an area of 1,828,032 km2 (705,807 sq mi), total GDP of $4.834 trillion and a GDP per capita of $26,267, making it one of the largest trade blocs in the world. Structurally the bloc is divided into four main agencies, each of which are responsible for certain aspects of Foareko: the Quarum, Council, Secretariat and Committee. Heads of go vernment from all members of Foareko meet once a year in an event known as the Foareko Summit, held in the capital city of one of the bloc's full member states. The selection process of the host city is done so on a rotational basis, ensuring that all member states are given the opportunity to host the penultimate gathering. Some politicians and experts have floated the idea for closer economic integration for Foareko such as the adoption of a customs union and eventually a single market. However since doing so implies the surrendering of some of its member states sovereignty, this idea has not been seriously discussed in any Foareko Summits.
Overview
The Foareko was established in response to the Association of Ozeros Nations lack of willingness to coordinate economic integration amongst its member states. Many proposals related to economic growth & development of the AON, such as free trade agreements, put forward by both Daobac and Pulau Keramat were voted down by narrow margins, mostly from the eastern members of the AON who were opposed to further integration of the organization. As a result members of the Daoan and Pulaui government came to see the AON's function's as a discussion forum to promote international development and political stability to maintain the geopolitical status quo of the Ozerosi region. Foareko was founded with some degree of closer integration amongst its member states, but at the same time it does not bind its members into a permanent union. The structure of the bloc, its key institutions and treaties were all made to reflect these values. It helps facilitate trade negotiations amongst its member states, advises member states on sound economic and monetary policies, and when asked to do so; the bloc may negotiate international trade agreements with foreign nations on behalf of its member states. Member states are free to establish and pursue their own economic ventures outside of the ETF so long as they do not conflict with a member state’s existing commitments with the bloc. In spite of its lack of deeper economic integration many experts have pointed out that the Foareko indirectly promotes deeper economic ties amongst its member states and it is in its member states interest to do so. The Foareko Free Trade Agreement (FTA) is one of the largest in the world and the presence of the Foareko gives smaller nations such as Daobac and Kajera more voice when negotiating with non-Foareko states. The Equatorial Standard Guidelines For around three years since its establishment Daobac and Pulau Keramat were the Foareko's only members, however it gradually expanded to include new full members as well as associate members. Kajera became the Foareko's third full member in 1993 whereas Onekawa-Nukanoa eventually joined to become its fourth full member in 1996. Both Zanzali and Pulacan expressed their interest in joining the Foareko and became associate members of the bloc on 1999 and 2004 respectively.
Structure
Foareko Quorum
Foareko Council
Foareko Secretariat
Foareko Committee
Membership
Pillars
Foareko Free Trade Area
The Foareko FTA (FFTA) is a free trade agreement amongst its member states established to support local trade and manufacturing amongst all Foareko countries, its immediate neighbors and the rest of the international community. The Foareko FTA is considered as one of the largest and most important trade areas of the world, due the large combined total GDP as well as the strategic geopolitical location of its member states that occupies the Kayatman, Ozerosi and Karaihe seas. The primary purpose of the FFTA is to increase Foareko's competitive edge in the world market by the elimination of tariffs and non-tariff barriers and to attract more foreign direct investment for its member states. A key element in the FFTA is the rules of origin policy which governs that only goods that were produced or manufactured entirely within Foareko countries are eligible to be included in the FFTA. This encourages FFTA countries to invest and improve their domestic production base rather than outsource them abroad. The FFTA encompasses almost all types of goods including:
The FFTA however does not enforce a common external tariff for goods and services imported by Foareko's member state, which means each member state are free to impose their own tariffs and quotas on imported goods from non-Foareko countries. There is however unspoken rulesome level of understanding amongst Foareko countries to impose similar levels of tariffs and quotas to imported goods in order to reduce the risk and consequences of foreign nations utilizing the lack of a uniform set of quotas & tariffs in Foareko countries. There is also a list of goods that are exempted from the FFTA, these typhically are sensitive goods related to national security or those from small local industries. Currently the FFTA excludes the following goods:
- Unprocessed fish products
- Hardware & technologies related to aerospace, environmental and chemical engineering.