Esquarian Common Market

Esquarian Common Market
Flag
Esquarian Secretariat administrative centers	Huimont
Languages	Official languages of the EC
Type	Common market
Members	See below
Leaders
Establishment
• Ratification of the Treaty of the Esquarian Community	9 September 1990
Population
• 2018 estimate	1.3 billion
GDP (nominal)	2018 estimate
• Total	40.666 trillion NSD
• Per capita	21,224 NSD
Currency	14 currencies
Website mec.esquaria.ec

The Esquarian Common Market is the unified market for goods and services that operates under the authority of the Esquarian Community (EC). Its legal framework is based on the Treaty of the Esquarian Community (TEC), ratified 9 September 1990, which specifically calls for the creation of the Common Market and provides its basic tenets and objectives. All Member States of the EC are automatically members of the Common Market, and non-Member States can be admitted to the Common Market but have no decision-making power.

According to the TEC, the Common Market "is intended to reduce barriers to trade and coordinate economic development." It has no internal tariffs and a unified external tariff regime. Regulations on the protection of consumers, workers, and the environment are to be standardized across the Common Market. Further, regulations "having a purely protectionist intent or outcome" are banned. The TEC also allows additional functions to be assigned to the Common Market by Esquarian law.

The Common Market was given greater significance by the Comprehensive Common Market Act 2017, which for the first time enumerated its structure and components: the Unified Market for Goods and Services, the Unified Customs Regime, and the Unified Market for Labour and Capital. It also articulated the Core Principles of the Common Market, namely:

• to further the economic integration and collective strength of the world's liberal democratic societies
• to remove discriminatory and inefficient barriers to the free movement of goods, services and people throughout the Community
• to improve the collective strength of the Community by promoting a coherent identity
• to promote the spirit of individual agency and free and fair enterprise within member-states and to the world at large

The Esquarian Court of Justice is the final arbiter regarding Common Market disputes.

Components

Unified Market for Goods and Services

The Unified Market for Goods and Services is a free trade area that requires Common Market states not to discriminate among goods and services produced within the Common Market. This includes the elimination of tariffs, fees, surcharges, and taxes levied against goods and services within the Common Market as well as subsidies aimed at supporting domestic businesses at the expense of external ones. Common Market states must also refrain from creating undue regulatory burdens against the flow of goods and services within the Common Market and from allowing goods imported from outside the Common Market at a reduced rate to circulate within it.

Common Market states are reserved certain powers regarding the trade in goods and services. For instance, they may charge reasonable health and safety fees on imports; make public procurements without regard to the Common Market; impose restrictions in wartime; impose currency controls; prevent the movement of illegal goods; and "maintain and enforce additional labelling and naming requirements for reasons of environmental protection, consumer protection, cultural heritage, or public health and safety."

Unified Customs Regime

The Unified Customs Regime requires Common Market states to harmonize their external tariffs and customs requirements. Duty is collected by national customs authorities for domestic use, but rates are set at the Common Market level as enumerated in the Addenda to the Comprehensive Common Market Act 2017. The compendium of tariff rates is known as the Central Tariff Database and is maintained by the Esquarian Secretariat.

In some instances, the Secretariat is empowered to raise tariff rates unilaterally; for example, in the event that an external state engages in certain anti-competitive trade practices, the President of the Esquarian Community as head of the Secretariat may impose additional tariffs of up to 300% on the violator. Common Market states are not allowed to impose their own trade sanctions.

Unified Market for Labour and Capital

The Unified Market for Labour and Capital is based on the legal framework of the Labour and Residency Act 2017, which guarantees residents of Common Market states four fundamental freedoms: cross-national movement, residency, labour rights, and civic participation. It also guarantees the freedom of cross-national incorporation. The Act creates the status of "Common Market national," which is defined as any citizen of an EC Member State or non-EC Common Market state, or anyone who has the legal right to reside and work in a Common Market state as a stateless individual or asylum holder.

Membership

All EC Member States are members of the Esquarian Common Market. A separate status of Associate Partnership exists for states outside the EC and Common Market but which are granted preferential trading status. Associate Partners enjoy a reduced general tariff rate of 1.5%, the right to appeal any adverse findings under the Comprehensive Common Market Act before the Esquarian Court of Justice, and reduced tariff rates or exemptions in up to twelve tariff areas as enumerated in their association agreement.

Official name	Status in the ECM	Currency	GDP (nominal, billions NSD)	GDP per capita	Year
Aininian Republic	EC Member State	Louré	5,050	41,032	2012
Aucurian Republic	EC Member State	Svāras	404	31,647	2014
Desenan Republic	Common Market Member	Desenan lira	187	33,297	2018
Eibenland, Federal Monarchy of	EC Member State	Mark	1,462	46,170	2017
Jorland and Lothican, Royal Commonwealth of	EC Member State	Shilling	495	32,182	2016
Karazawa, Kingdom of	EC Member State	Cushek	945	10,500	2014
Katranjiev, Kingdom of	EC Member State	Zalot	1,787	66,751	2015
Luziyca, Christian Republic of	EC Member State	Luziycan lira	14,786	54,800	2015
Mespalia, Kingdom of	EC Member State	Sampo	1,614	45,785	2016
Namor, People's Republic of	Associate Partner	Ramon	8,784	16,837	2017
Ordennya, Federation of	EC Member State	Credit	1,400	35,000	2017