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 Dialogue partners |
| Government | Intergovernmental Organization and Trade bloc |
• Presidency of the Quorum |  Sabana Lokilone |
• 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 | 828,032 km2 (319,705 sq mi) |
| Population | |
• 2022 estimate | 162,017,374 |
| GDP (nominal) | 2022 estimate |
• Total |  $3.509 trillion |
• Per capita | $21,659 |
| Gini |  26.15low |
| HDI (2022) | 0.867 very high |
The Equatorial Trade Forum (ETF) (Nylele: Forum Ara-barotra Ekoatorialy), commonly abbreviated 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 Foareko Standard Guideline (FSG), 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 Kainuinoa. 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 FSG. Foareko also designates Gristol-Serkinos, Onekawa-Nukanoa and XXX as dialogue partners. 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 162,017,374 people, encompasses an area of 888,368 km2 (342,999 sq mi), total GDP of $3.509 trillion and a GDP per capita of $21,659, 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
The Quorum is Foareko's de-jure highest level agency within the bloc, whose members are comprised of every head of state from each full member of the organization. It is presided over by a President of the Quorum, a position that is changed once every two years on a rotational basis amongst the members of the Quorum. The primary task of the President of the Quorum is to preside over all informal and formal meetings of the Quorum and to provide mediation in all of its discussions. It does not grant the person who holds said title any special privilages above their peers. All decision making done within the Quorum is done by unanimous voting. The primary purpose of the Quorum is to define the overall direction and priorities of the bloc, and it is the only agency of the Foareko that may ratify any organizaitonal-wide binding policies and treaties. Members of the Quorum may meet informally up to three times a year and formally once every two years in a gathering known as the Foareko Summit. The summit is a tradition of the Foareko where the heads of state of each member nation meet to discuss various regional and global economic issues, strengthen cooperation and friendship amongst the Foareko's member nations and make decisions. The current presidency of the Quorum is held by Sabana Lokilone the current President of Kajera.
Foareko Council
The Council is Foareko's de-facto highest level agency. It is composed of all economic ministers (or its equivalent) from each member state of the bloc. The council meets at least four times a year to draft and set forth the general direction and policy of the Foareko which would subsequently debated by each member state's national parliament for approval in advance prior to every Foareko Summit. It is during the summit where these policies are officially ratified by members of the Quorum. Decisions within the Council are done on a concensus based decision making approach. The Council would generally consult with members of the Foareko Committee, an agency comprised of various working groups of experts from the government, private and non-government organization sectors, when drafting any policy or treaty. The Council is led by a Speaker which like the Quorum is a position that rotates once every three years amongst the full members of the bloc. The current Speaker of the Foareko Council is Minister XXX from Daobac.
Foareko Secretariat
The Secretariat is the largest agency of the Foareko that is responsbile for the day to day operation and management of the bloc as well as the implementation of of policies and treaties as set forth by the Foareko Quorum. The Secreatariat is led by a Secretary-General, a position that is rotated among the member states once every three years. The Secreatariat monitors and ensures that all agreements and treaties ratified by the Quorum are dilligently implemented both within the Foareko and within its member states. The Secreatariat is asssited by a myriad of divisions and departments, most of which partake in a hands-on-approach to their work. The Secretariat often calls upon the working groups from the Foareko Committe to assist it in its task. The current Secretary General of the Foareko is XXX from Pulau Keramat.
Foareko Committee
The Comittee is an advisory body of the bloc whose purpose is to provide counsel and advise for both the Council and Secretariat on specific economic, financial and trade policies or issues. A unique aspect of the Committee is that its manpower is comprised of members from both the government and private sectors. Leaders from regulatory bodies, the president director/commissioner of private corporations as well as key members of non-governmental organizations (such as legally recognized trade unions) are often invited to occasionally consulted with within the Committee. It is hoped that with the inclusion of a broad and diverse group of experts will help generate advise and counsel with reduced levels of bias. The Committee is led by a Chairperson, a position currently held by XXX from Onekawa-Nukanoa, a position that is rotated amongst the full members of the Foareko once every three years. The Committee is divided into multiple working groups that focuses on specific matters, examples include:
- Small-Medium Enterprise
- Trade Facilitation
- Economic & Financial Cooperation
- Foreign Affairs & Trade
- Energy & Minerals
- Tourism
- Standards
- Data & Statistics
Membership
There are three types of membership within the Foareko: full members, associate members and dialogue partners.
Full Member
Full members are countries of the Foareko who have signed, ratified and fully complied with the various treaties and provisions that comprise the Foareko, including full implementation of the Foareko Free Trade Area (FFTA) and the adoption of the Foareko Standard Guideline (FSG), the last often considered as the main pre-requisite of accession into the Foareko. Full members are eligable to vote in all four agencies of the Foareko (Quorum, Council, Secretariat & Committee) and may nominate positions from amongst itself in these agencies. The position of President of the Quorum, Speaker of the Council, Secretary-General of the Foareko and Chairman of the Committee all rotate around the full members of the bloc. All members must also contribute to the Foareko's annual budget. Below is a table of all full members of the Foareko.
Associate Member
Associates are members of the Foareko who have partially adopted or implemented certain aspects and components of the Foareko's pillar such as the FFTA and the FSG. These members are generally considered to be on track for accession as a full member of the Foareko however they are not yet ready to do so either because they have not yet fulfilled all pre-requisite criterias for full membership, or the associates themselves purposefully withhold their progress to full membership. An example of an associate's partial adoption of the Foareko include opting-in only for specific aspects of the FFTA. Associate members do not have voting rights in any of the Foareko's four agencies although they are permitted to voice their opinion when certain matters are discussed. Associate members are also required to partially contribute to the Foareko's budget. Below is a table of all associte members of the Foareko.
Dialogue Partner
Dialogue partner (DP) is a category of non-Foareko countries that has established reciprocal close economic cooperation with Foareko. These are generally non-Ozerosi, Karaihe and Kayatman countries that maintain friendly ties with Foareko. Unlike non-DP countries, the bloc engages in a deeper level of engagement, discussion and cooperation with countries it considers as a partner. Topics of discussion between the Foareko and its various partners vary greatly from as simple as securing key technical assistance & development, strengthening economic and cultural ties, to the establishment of full-fledged free trade agreements with one another. The process of conferral of DP status is done so through a unanimous vote of the Foareko Quorum. There are currently XX countries that Foareko officially conferred dialogue partner status, among them are Gristol-Serkonos, Onekawa-Nukanoa and XXX.
List of members
| Country | Membership | Population | GDP Total | GDP Per Capita | Area (km2) | Area (sq mi) | Density (km2) | Density (sq mi) | HDI | Gini |
|---|---|---|---|---|---|---|---|---|---|---|
| Daobac
|
Full | 8,553,903 | $351,000,000,000 | $41,000 | 83,520 | 32,250 | 102.0 | 264.2 | 0.911 | 39.1 |
 Gristol-Serkonos
|
Dialogue Partner | 64,833,770 | $1,989,000,000,000 | $30,678 | 1,386,208 | 535,218 | 46.77 | 121.1 | 0.912 | 31.3 |
| Kainuinoa
|
Full | 38,000,000 | $674,317,894,800 | $15,758 | 134,864 | 52,071 | TBD | TBD | 0.805 | 28.1 |
| Kajera
|
Full | 32,010,871 | $784,266,339,500 | $24,500 | 74,104 | 28,998 | 426.2 | 1,103.9 | 0.872 | 20.3 |
| Pulau Keramat
|
Full | 83,452,600 | $1,699,575,000,000 | $23,931 | 595,880 | 229,680 | 140.3 | 363.3 | 0.88 | 17.1 |
 Pulacan
|
Associate | 46,442,816 | $1,008,367,349,848 | $21,712 | 749,856 | 289,521 | 61.93 | 160.4 | N/A | N/A |
 Onekawa-Nukanoa
|
Dialogue Partner | 60,045,367 | $2,000,000,000,105 | $32,253 | 1,074,528 | 414,878 | 57.7 | 149.4 | N/A | N/A |
 Tsurushima
|
Dialogue Partner | 121,500,000 | $4,342,000,000,000 | $34,281 | TBD | TBD | TBD | TBD | 0.903 | 29.5 |
 Zanzali
|
Associate | 44,009,280 | $1,122,236,640,000 | $25,500 | 698,560 | 269,720 | 63 | 163.2 | 0.804 | 44.3 |
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 there is a 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 are typically sensitive goods related to national security or those from small local industries that a member state wishes to protect. Currently the FFTA excludes the following goods:
- Unprocessed fish products
- Hardware & technologies related to aerospace, environmental and chemical engineering.
Foareko Standard Guideline
The Foareko Standard Guideline (FSG), is a series of documents of the ETF that advises and oversees the voluntary standardization of products, services, processes and systems in the ETF. It was spearheaded by various business leaders from the Standards Working Group, a part of the Foareko Committee. While the FSG is non-binding and voluntary in nature, the bloc gives incentives to member states who adopt and implement the FSG in full. These incentives include shorter transit times for goods entering ports, reduced and if not eliminated number of certifications that a good must fulfill before being able to be imported to another country within Foareko. Therefore it is in a member state’s interest to follow the guidelines as set forth in the FSG to more effectively compete in the Foareko market. The FSG provide guidelines for the following aspects:
- Quality Management
- Infrastructure
- Manufacturing
- Technology
- Health & Safety
- Energy Management
- Food safety
- IT Security
- Financial Transactions
Quick Response Code Foareko Standard
One of the FSG's most notable achievement is the implementation of the Quick Response Code Foaroke Standard (QRFS), a QR Code standardization project spearheaded by Trade Facilitation & Financial Integration Committees of the Fuaroke Committee. Before the development of QRFS many QR codes of various cashless and mobile payments were exclusive to themselves. This means the QR code from Company A cannot be used by those from Company B, this became the source of great inconvenience of many consumers as they were forced to adopt and register for multiple cashless payment applications. Businesses were also placed in a difficult, cashless payment is gradually becoming the new norm and so many businesses had to spend extra money to provide multiple QR codes to accomodate each customer's different payment methods. To resolve this the Fuaroke Committee for Trade Facilitation & Financial Integration formulated the QRFS guideline in 2009 to help streamline cashless payment services for both businesses and consumers. The QRFS had been adopted by many Foareko countries such as Daobac, Pulacan, XXX and XXX.