Asia-Pacific Trade Union
The Asia-Pacific Trade Union is a trade agreement that began between the East Asian Federation and the Empire of Nam Viet, ratified in late 2005. As part of that initial agreement, Nam Viet adopted a new currency unit, completed in early 2009.
The monetary changeover to the new bạc, equal to the lò, and divided into 640 new đồng was initially scheduled for completion by late 2008. Minor delays
All tariffs and other trade barriers were to be phased out over a period of 3 years, completing in 2009. This wasn't fully completed, however, until 2011, due to delays presented by the parliaments of both Japan and Nam Viet.
In addition, a Trade Commission was to be established to mediate any disagreements between the member states. This is in the rudimentary stages, however, it is functional as of 2015.
Provision was made for admission of the Chinas, however, none had applied for membership before 2015.
Most controversial of the provisions of the treaty was 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.
Events of 2009
While tariffs and trade-barriers have been largely removed between Japan and Nam Viet, limitations on free movement and migration have been slower to materialize. Initial proposals were three years, but they were changed to five years in late 2007 and again to ten years in early 2009 as increasing concerns both in Nam Viet and Japan were brought to light.
In 2016, after the accession of Fuxing to the Hunanese throne, application was made for membership in the Asia-Pacific Trade Union. The application is being considered at this time. Pundits suggest that this application for membership is meant as a means to forestall aggression from FuTaiNan and Nanchang.