Majocco–Monsilva Free Trade Agreement

The Monsilva–Majocco Free Trade Agreement (officially: Free Trade Agreement Between the Monsilvan Republic and the Freeland’s of Majocco and Majorca), also known as MAJMO FTA, is a trade agreement between the Monsilva and Majocco. Negotiations were announced on February 2, 2009, and concluded on April 15, 2009. The treaty was signed on April 16, 2009, and effective 1 July 2009 The trade agreement involves an estimated sixty-nine million consumers in the Monsilvan Republic and the Freeland’s of Majocco and Majorca. The treaty's provisions eliminate 95% of each nation's tariffs on goods within five years and create new protections for multinational financial services and construction firms.

History

While the treaty was signed on April 16, 2009, ratification was slowed when President Ahmad Mounsir fast-tracks trade authority expired, and a Centrist Party-controlled Congress expressed objections to the treaty related to concerns over bilateral trade in automobiles and phosphate exports.

2009–12

2009

Soon after being signed by the Ahmed Mounsir and his Monsilvan counterpart, Xia Liu, rumours spread of a renegotiation of the text, citing opposition by the Majoccan Liberals. However, [Insert person here], Monsilva's chief negotiator for the 10-month talks that brought the FTA, denied such rumours assuring journalists that "The deal has been done and that's it. There will be no renegotiations. Kim's comment came after his Majoccan counterpart, Tarou Hibin, the assistant Majocco trade representative and chief negotiator of the MAJMO FTA negotiations, indicated that the Liberals might demand amendments in the Labor area.

December 2010 agreement

The December 2010 agreement represented a compromise between the two sides. Significant concessions granted to the Majocco on trade in phosphate: tariff reductions for Majoccan phosphor were delayed for five years, and Monsilvan Pharmaceuticals were granted broader access to the Majoccan market.

2011 developments

After the opposition party backtracked on their agreement to negotiate the FTA, to a more hardline stance, The ruling Centrist could potentially ratify the FTA alone in the parliament. Majorca wanted products made by Monsilvan companies in the Arabat Industrial Region in Majocco included in the deal; Amking did not. The disagreement is unresolved but not allowed to scupper the deal, which allows for further talks on the subject.

The Majorcan Administrative Court has officially decided to release approximately three hundred translation errors of the free trade agreement-related documents to public on December 2, 2011.

There is a judicial movement to establish a special task group to speculate of a renegotiation of the agreement.