Asia-Pacific Trade Union

From IBWiki

The Asia-Pacific Trade Union is a trade agreement between the East Asian Federation and the Empire of Nam Viet, ratified in late 2005. As part of the agreement, Nam Viet will adopt a new currency unit, the new bạc, equal to the lò, and divided into 640 new đồng. This changeover is scheduled to happen by late 2008.

All tarrifs and other trade barriers are to be phased out over a period of 3 years, completing in 2009. In addition, a Trade Commission will be established to mediate any disagreements between the member states.

It is hoped by the signatories that it will expand to include other East Asian nations, particularly the Chinese states.

Most controversial of the provisions of the treaty is a provision to provide for free movement and immigration between the member states after three years. Many Japanese opposed that provision, fearing a flood of Viet immigrants. Bao Long has promised that such fears are unfounded as the economy of Nam Viet will continue to expand, and there will be more jobs and increased pay to keep the Viet at home.