Vespanian Exchange Institute

The Vespanian Exchange Institute,(abbreviated into the VEx) formerly known as the Common Sphere Business Institute, is an international exchange and business organization based in the city of Kopiona Poi in Pulau Keramat. The VEx works as a center for the promotion and aid to community-oriented businesses, stockholder analysis, and most recently, to facilitate and assist in economic exchange and agreements that occur between socialist-oriented and capitalist-oriented businesses and facilities. The Institute was founded in 1972 by Manaia Wira Anisa Bunnag, who was serving as the Councilmember of Kopiona Poi at the time, who took inspiration from the original 16th century trader's community, known as the Karaihe Company, who had gained a reputation of facilitating trade deals to foreign ships that had docked at the ports in order to better facilitate trade, and thus allow the port to gain a reputation of effective and well-communicated exchange.

Members of the institute consist of both government officials designated by the Dewan Emas of Pulau Keramat, as well as members of private industries that exist within the economic community of the nation, tying to both it's government industries and the privately owned businesses that both exist within Kopiona Poi. As of the year 1977, business officials stemming from organizations that originate in countries outside of Pulau Keramat were allowed to attain membership status, and while it has since conception worked to allow exchange and facilitation to all who enters the port city of origin, the institute has publicly announced their consideration of expanding their operational facilities to new soils to invite other states to engage in such discussions.

Any business who wishes to engage in economic dealings and development within Kopiona Poi is not legally required to receive a recorded history and partnership with the VEx, yet little to no government or business that stems from Pulau Keramat does not have at least minimal compliance and adherence to the institute due to the intrinsic benefits that come with partnership. In addition, many other nations and their own industries, such as Jhengtseng, prefer partnership with the VEx, due to the efforts made to provide a place for facilitated exchange and judgement of economic agreements between industries and nations that identify by deviating economic and political ideologies.

Organizational Structure

The Institute is currently facilitated by a board of officials, half of which are appointed directly by the Dewan Emas whereas the remaining positions are split between being on appointment basis by member organizations that are elected on sortition process, or elected by specific elections that occur whenever a position on the board becomes vacant. The board appoints a triumvirate of officials to act as overseers on the process of member admission, organization certification, foreign agreements, and other executive orders. One of the triumvirate is chosen to both host at least one economic conference a month and write a fully detailed report on operations that occur within the span of four months, the period of time split evenly between the elected triumvirate. When one of the triumvirate leaves their position, the entirety of the overseeing position must be reelected. These reports are made available to all organizations and governments that work with the institute, although it is first received by the Dewan Emas before made fully public.

Membership

Membership into the institute requires foremost a submission of entry that details the operations of the organization, the regulations that they are imposed to follow either by their own government or under their own accords, both internal and external audit records for the past decade of operations, a list of international business arrangements that are already implemented prior to membership or contact, and a declaration of purpose to their entry into the institute. This submission is foremost analyzed by the triumvirate, who vote upon allowing it to be introduced to the entirety of the board, or to be denied. When brought to the board, a representative of the organization is asked to be present to answer questions that the official members of the board may have, and provide a declaration of intent to their membership with the institute. Most organizations and governments that are allowed membership status maintain generally positive relationships with foreign organizations and governments, operate with full consent and agreement with their own government for NGOs, are connected to, or affiliated with an international partner or organization, and several other standards to economic capacity and levels of transparency.

Report Methodology

The triumvirate of the institute each publicly release their own report in the respective months of January, May, and September, always due by the Friday of the second week of the month. These reports are known as the Pertumbuhan Analysis(PA), which traditionally consists of a list of what the triumvirate member considers the most detrimental and positive agreements, events, and investments that occurred during their term of observation and recording. Each of these occurrences are analyzed on a set account of key factors depending on the nature of the operation, although all operations contain recordings of transparency, cohesive assessment and communication of terms, and current economic standings and potential extraneous variables that may influence all participating members to each operation. Before each Pertumbuhan Analysis is published, it must first be screened by a board elected by the Dewan Emas as to ensure the credibility and technical rationalization behind each PA is sufficient enough to be made public.

Current Member Organizations

As following is a list of states that are either members within the VEx itself, or have organizations that are currently members of the VEx.

Name of Organization	Status of Organization	Date of Entry into membership	Notes
Pulau Keramat	National Government	1971	Status as founding member
West Maritime Bank	Commercial Bank	1977	Long-time investor in Pulau Keramat, WMB joined the VEx as soon as possible once foreign organizations were allowed to
Kanul-Ho Bank	Commercial Bank	2001	Joined once its activities in Pulau Keramat became large enough to justify it
Ch'ob Tasil	Conglomerate	1983	Beverage and cosmetic conglomerate, joined the VEx to facilitate contacts with Pulaui Agave, algae, and coffee producers