Equatorial Trade Forum
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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.