Izmir Accord (Est. Feb 19, 2014)

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Izmir Accord (Est. Feb 19, 2014)

Post by Nayrin on Wed Feb 19, 2014 2:09 am

COGNICANT of the need for a strong economic bloc in the Orient which represents significant economies in the region and a desire to act collectively on issues of energy, trade and justice
 
DETERMINED to create a climate for partnership through trade, regulated investment and shared goals
 
STRIVING for a healthy future for signatories and their citizens in the face of a growing and, at times, tumultuous region.
 
In the interest of economic partnership, members present and future enter the following agreement – the OTO 7-Point Accord:
 
1. To harmonize our imports and exports, providing one another with mutually advantageous trading opportunities and cooperation for key resources.
 
2. The construction of shared pipelines, railways and other methods of energy transportation for raw material refining and exchange of goods.
 
3. Provide opportunities for investment in industries approved by each state, respecting protected industries as out of bounds and operating under the laws of each sovereign state. Economic equality and mutual advantage should be guiding principles of this accord.
 
4. In the interest of fair competition the use of a harmonized currency, the Oriental Yuan, will be encouraged specifically within members of this agreement and future OTO member-states. In order to accomplish this, the OTO will establish the OTO Bank for the purposes of development, minting this new currency, trade and economic growth among membership.
 
5. Mutual cooperation within technology-related sectors ( information, energy, weapons development) and joint research initiatives between states through university programs, the public sphere and some participation from the private sector.
 
6. While respectful of the fundamental tenets of the Navigable Waters Treaty, signatories will endeavour to relax tariffs and transporting regulations through their state’s body of water to ensure more harmonious trade.
 
7. Endeavor to collectively combat social injustices and poverty, promote cultural understanding and tourism between states while pressing collectively for peace between partners of the OTO and the Oriental region as a whole.

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