Southern Partnership Commerce Initiative

Jump to navigation Jump to search
Southern Partnership Commerce Initiative
File:SOPCOMM.png
TypeRegional Intergovernmental Trade Organization
Membership

The Southern Partnership Commerce Initiative (abbreviated: SOPCOMM) is an regional intergovernmental, comprehensive free trade organization consisting of Belhavia, Tippercommon, Estovnia, Temuair, Anikatia, Hornatyia, Sieuxerr, Austrasian Riche, Valinor, Karinzgrad, and Basileria in and around the Global South, chiefly the continents of Taveria, Skandera, Australis, and southern Lusankya.

It is often described as the southern equivalent to the Global North's NOCTA trade agreement.

Negotiation and ratification

SOPCOMM was signed in the Treaty of Sussex on July 10th, 1995 by representatives from Belhavia, Tippercommon, Estovnia, and Temuair in Sussex, Tippercommon. This was after two years of formal and informal negotiations among all the parties, started in early 1993.

Later, Sieuxerr joined on May 14th, 2006, Austrasien on January 15th, 2007, Hornatyia on October 8th, 2009, Anikatia on December 3rd, 2010, Valinor on April 14th, 2011, Karinzgrad on June 11th, 2012, and most recently the Basilene Empire on March 19th, 2015. Each member-state won a majority vote for admission on the Trade Council.

Provisions

Economic

The free trade agreement is similar in many respects to NOCTA, and standardized tariff schedules, excise taxes, and border fees into agreed-upon low rates. Several of the primary goals of SOPCOMM are "the stability of local markets," "regional prosperity," and "avoidance of trade and fiscal policies that would negatively impact other member-states' economies."

Governance

SOPCOMM has a Trade Council with a representative from each of the ten member-states. The Trade Council has the authority to admit new members into the Treaty by a majority vote. It may levy sanctions on member-states who violate the Treaty, and it may authorize countervailing duties to be levied in the event of a trade war sparked by a non-Treaty member or anti-dumping tariffs when non-Treaty members engage in predatory pricing.

Impact

Current controversies

See also