Comprehensive Free Trade Agreement Tranquillia – Tumland

The Comprehensive Free Trade Agreement between Tranquillia and Tumland (COMTRATUM) is a bilateral agreement aimed at promoting free trade and economic cooperation between the two nations. The agreement was signed in Port Melody and entered into force immediately after the exchange of written notifications of completion of legal procedures. The agreement sets out a comprehensive framework for the reduction and eventual elimination of tariffs on goods traded between the two countries, as well as the liberalization of their respective services sectors. The agreement also provides for the protection of intellectual property rights, the facilitation of investment flows, and the resolution of disputes through consultations, negotiations, and, if necessary, arbitration.

COMTRATUM Document

The below document outlines the Policies/Agreements between the two nations in a “Free Trade” agreement. The items outlined in the agreement are designed to be enacted upon approval from each nations respective diplomatic process, The goal of the COMTRATUM is to eliminate most Tariffs on listed goods/services in order to bolster trade and business ties.

Definitions:
Product: Product refers to any physical or digital good.
Origin Country: Origin Country denotes the country of origin for the product, the exporter of the product.
Tariff: Tariff refers to the new tariff imposed on the product/s after the agreement is ratified.
'Products covered under agreement:

Product	Origin Country	Current Import Tax	New Import Tax
Truffles	Tumland	20%	5%
Non Pepper based Spices	Tumland	20%	2%
Semiconductors	Tranquillia	30%	0%
Non Military grade circuits	Tranquillia	20%	0%
Alcohol	Tumland	20%	0%
Alcohol	Tranquillia	20%	0%