20-04-2025, 10:38 PM
Igniting the flame for closer regional integration
Ntotan HoG to discuss regional integration with Midway, Utemban Heads of Government
13th February, 4549.
Chief Minister Jeneba Gassama has entered pre-organisational negotiations on the prospect of closer integration between Ntoto, Midway and Utembo. The nation's first female Chief Minister has been a strong proponent of regional integration and the prospects associated with its conceptualisation. Now, she intends on pushing the product of closer regional integration between the three nations after it became clear that there is an increased need for regional integration. Ntoto is rapidly becoming a major force for economic development in the "Third World" having benefited immensely from the Bortnem-Pomerleau Initiative. Whilst the Zardic Institute for International Affairs may not recognise the nation's development underneath the Bortnem-Pomerleau Initiative, Chief Minister Gassama stated that it was not important as the citizenry had expressed their satisfaction with the fact that relative economic development exists within the nation and will continue to exist as long as the nation maintains its relative stability and the stream of minor investment either continues or expands.
During the meeting of the three TW leaders, it was decided that the adoption/formation of a single market economy would be pushed. A single market is an agreement between several nations which attempts to make trading between members as easy as possible. The concept to be pushed by the Ntotan Government is founded on the belief that trade between members would see a removal of taxes, tariffs and quotas placed on trade goods and services. Currently, not many TW nations have agreements in the removal of tariffs and taxes. As a result, goods originating from these nations are more expensive and less appealing to the Dovanian market, especially those looking to import goods from these nations. An estimate by the Kazulian Developmental Assistance Agency states that tariffs and quotas back and forward could cost Ntoto, Midway and Utembo around $3 Billion LOD annually. According to a fellow at the Trond Henrichsen Institute for International Affairs, the reason nations impose tariffs on imports is because it protects local production. By placing tariffs on foreign products, makes said goods more expensive than those offered locally, thus encouraging people to purchase from the now cheaper local suppliers.
By forming a single market, there will be virtually no limit to the numbers of goods a member state can sell to another within the market itself. Currently, nations are able to bar the amount of goods entering their nations with the expressed purpose of protecting local production. The single market will also allow for the free movement of people, capital and services and also works to prevent non tariff restrictions. Having different rules and requirements as would be promoted by non tariff restrictions would make international trade harder. Through the formation of standardised rules, trade would be easier as it allows for an even playing field. It would mean that all nations within the single market will have to abide by the same regulations and nations will not be able to get ahead by exploiting workers and having low safety standards. It is expected that Chief Minister Gassama and her Midwegian and Utemban counterparts will sign agreements next year, thus forming the aforementioned single market.
Originally posted by Maxington on 22 March 2019.
Ntotan HoG to discuss regional integration with Midway, Utemban Heads of Government
13th February, 4549.
Chief Minister Jeneba Gassama has entered pre-organisational negotiations on the prospect of closer integration between Ntoto, Midway and Utembo. The nation's first female Chief Minister has been a strong proponent of regional integration and the prospects associated with its conceptualisation. Now, she intends on pushing the product of closer regional integration between the three nations after it became clear that there is an increased need for regional integration. Ntoto is rapidly becoming a major force for economic development in the "Third World" having benefited immensely from the Bortnem-Pomerleau Initiative. Whilst the Zardic Institute for International Affairs may not recognise the nation's development underneath the Bortnem-Pomerleau Initiative, Chief Minister Gassama stated that it was not important as the citizenry had expressed their satisfaction with the fact that relative economic development exists within the nation and will continue to exist as long as the nation maintains its relative stability and the stream of minor investment either continues or expands.
During the meeting of the three TW leaders, it was decided that the adoption/formation of a single market economy would be pushed. A single market is an agreement between several nations which attempts to make trading between members as easy as possible. The concept to be pushed by the Ntotan Government is founded on the belief that trade between members would see a removal of taxes, tariffs and quotas placed on trade goods and services. Currently, not many TW nations have agreements in the removal of tariffs and taxes. As a result, goods originating from these nations are more expensive and less appealing to the Dovanian market, especially those looking to import goods from these nations. An estimate by the Kazulian Developmental Assistance Agency states that tariffs and quotas back and forward could cost Ntoto, Midway and Utembo around $3 Billion LOD annually. According to a fellow at the Trond Henrichsen Institute for International Affairs, the reason nations impose tariffs on imports is because it protects local production. By placing tariffs on foreign products, makes said goods more expensive than those offered locally, thus encouraging people to purchase from the now cheaper local suppliers.
By forming a single market, there will be virtually no limit to the numbers of goods a member state can sell to another within the market itself. Currently, nations are able to bar the amount of goods entering their nations with the expressed purpose of protecting local production. The single market will also allow for the free movement of people, capital and services and also works to prevent non tariff restrictions. Having different rules and requirements as would be promoted by non tariff restrictions would make international trade harder. Through the formation of standardised rules, trade would be easier as it allows for an even playing field. It would mean that all nations within the single market will have to abide by the same regulations and nations will not be able to get ahead by exploiting workers and having low safety standards. It is expected that Chief Minister Gassama and her Midwegian and Utemban counterparts will sign agreements next year, thus forming the aforementioned single market.
Originally posted by Maxington on 22 March 2019.