Istalia

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Towards the signing of the trade agreement between Istalia and Bianje

This agreement with another of the most dynamic realities in Dovani will shortly follow the one with Kundrati

The Minister of Foreign Affairs with the Ambassador of Bianjie

April 5648

ROMULA — A few weeks after the announcement of the agreement signed by Istalia and Kundrati, after other long, careful and meticulous talks, another negotiation is nearing its conclusion, the government announced today: the one between Istalia and the Khanate of Bianje for the signing of a new economic and trade agreement that promises to tighten bilateral relations between the two countries. The agreement will establish a framework for cooperation in the sectors of trade, investment and taxation.

At the heart of the agreement is the liberalization and increase of trade: the agreement will provide for a degressive system of duties that, starting from a limited percentage, will progressively decrease with the increase in the overall volume of trade, until it reaches zero once a pre-established threshold is exceeded. A measure designed to stimulate the constant growth of bilateral trade.

A separate chapter concerns a list of strategic goods and materials, on which a 0% duty will still be applied, but whose export and use will be subject to specific procedures to ensure their use according to criteria of common interest between the two countries.

The agreement will also introduce enhanced cooperation in customs and excise matters, with the aim of accelerating the clearance of goods, simplifying the documentation required and facilitating the cross-border transit of goods. The same simplifications will also be applied to the free movement of capital, removing bureaucratic and administrative barriers that hinder private investments.

On the investment front, the agreement will define the conditions and guarantees for private investors, providing for standards of fair and protected treatment, protection against arbitrary expropriation, freedom in the transfer of resources and a clear and secure regulatory framework. In this sense, the creation of joint mechanisms for the promotion of business opportunities is also foreseen, through the exchange of information, market studies and business missions.

Particularly significant was the position of Istalia on the fiscal chapter: one of the most discussed issues of the negotiation concerned cooperation against double taxation and tax evasion, a topic on which the Istalian government insisted on introducing transparency tools, automatic exchange of information and reciprocity clauses to guarantee fair trade and compliance with national legislation on responsible protectionism.

The final signature of the agreement is expected in the coming weeks, and will be accompanied by a joint declaration by the two governments that will establish a new structured and multilevel economic partnership.