trade agreement MICA | MINSEK Free Trade Agreement

[Min-Su]

 

<MICA-雲母-000-002>

分す国際協力機構 Minsu International Cooperation Agency   MINSEK FREE TRADE AGREEMENT PREAMBLE Minsu and Sekiya (hereinafter referred to as “the Parties”), CONSCIOUS of their longstanding friendship and ties that have developed through many years of fruitful and mutually beneficial cooperation between the Parties; DETERMINED to strengthen their economic partnership through liberalization and facilitation of trade and investment; DETERMINED to establish a framework for enhanced cooperation to promote a predictable, transparent and consistent business environment that will lead to the improvement of economic efficiency and the development of trade and investment; DESIRING to foster creativity, innovation and links between dynamic sectors of their economies; SEEKING to create larger and new markets and to enhance the attractiveness and vibrancy of the markets of the Parties; RECALLING the contribution made to the development of the bilateral trade relationship between the Parties by the Agreement on Commerce between Minsu and the Republic of Sekiya, signed at Tanba on 6 July 1357,  DETERMINED to build on their rights, obligations, and other agreements to which they are both parties; and CONVINCED that this Agreement would open a new era for the relationship between the Parties; HAVE AGREED as follows: ARTICLE Ⅰ 1.  Establishment of a Free Trade Area. The Parties hereby establish a free trade area consistent with Esferos guidelines. 2. The Parties shall endeavor to cooperate and support each other, within the limits of their possibilities, in economic and in the technical fields mentioned in Article 2 of the present Agreement. Such cooperation shall take place on a basis of equal partnership. 3. The reduction of restrictions on businesses within both countries in terms of conducting business within each others' borders. 4. Reduction of tariffs imposed on both parties signatory to the Agreement. 5. The exchange of commodities produced in each other's countries, as well as the acceptance of these goods for sale by vendors in these countries. 6. Arrangements regarding individual projects shall be concluded on the basis and within the framework of the present Agreement.  ARTICLE Ⅱ The arrangements referred to in paragraph 2 of Article I of the present Agreement shall provide for both Parties to: 1. Establish technology training and demonstration facilities; 2. Dispatching technical-industrial specialists and/or consultants to specific projects at the behest of the other party; 3. Opening the borders between the contracting parties includes visa-free travel and the establishment of a permanent embassy, consul, and diplomatic relations.  4. Reduction of tariffs imposed on imports and goods on both parties signatory to the Agreement. ARTICLE Ⅲ On the basis of arrangements concluded under paragraph 2 of Article I of the present Agreement, both parties shall further endeavor to assist each other: 1. By opening its market to both parties’ companies, in the fields of food processing, beverages, steel industry, agriculture, and electronics.  2. By promoting the educational and intellectual exchanges between both parties. 3. By promoting tourism between both parties. ARTICLE Ⅳ The Government of the Republic of Sekiya shall: 1. At its own expense, provide necessary land and buildings including appurtenances for the individual Minsunese electronics and food manufacturing projects in Sekiya. 2. Bear the costs of operation and maintenance for the individual projects, including the costs of  equipment and supplies required. 3. Provide at its own expense indigenous technical and auxiliary staffs required for the individual projects as well as interpreters; 4. Make appropriate arrangements to ensure that, after a reasonable lapse of time, the technicians from the Empire of Minsu can be succeeded by suitable Sekiyan technicians; 5. Bear the costs of round-trip air transportation fare for the experts and technicians from the Empire of Minsu between Tanba (Minsu) and Nur (Sekiya). 6. Provide local transportation for the experts and technicians from the Empire of Minsu and bear the costs of operation and maintenance thereof. 7. Open its door for tourism and allow visa-free travel for Minsunese. 8. Pass national legislation allowing for special non-fiscal incentives and income tax holidays valid for five years to Minsunese companies and investments. 9. Allow monetary usage of the Minsunese Yen alongside the Sekiyan Republican Dollar, to allow the government to reduce the volatility of its exports. Details of the items contained in the preceding paragraphs and/or of other items shall be settled between the Parties by means of the arrangements referred to in paragraph 2 of Article I of the present Agreement.   IN WITNESS WHEREOF, the respective representatives, duly authorized for the purpose, have signed the present Agreement. DONE at Tanba-cho, Chiyoda-gun, Kochiro-toshu on the 30th day of March, 1423, in two originals, both in the Common language.   For the Government of the Empire of Minsu: (Signed) PM Haruka Tanaka Prime Minister of the Empire of Minsu   For the Government of the Republic of Sekiya: (Signed) Chancellor Amelia Marcus Chancellor of the Republic of Sekiya

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