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| PARTNERSHIP FOR PROSPERITY |
| At its most basic, the Wysterian Union provides a common market for the goods, services, financial transactions, mergers, acquisitions, and other commercial and business endeavours for its citizens, national governments, and corporations. THE COMMON MARKET Within the common market, labor and capital may flow freely between member states without hinderance. Market forces of supply and demand determin where high and low skill laborers go to seek jobs, and where companies will invest in new production capital and facilities. The nations within the common market share an external tariff that is applied consistently throughout the Union. Exporters cannot shop from state to state to find the lowest duty--all Union members cede the competency for taxing imports to the Wysterian Union bureaucracy. UNIFIED CURRENCY AUTHORITY Within the Union, a subset of countries have chosen to further the degree of economic integration existing between their states by sharing a single currency. This monetary union is known as the Unified Currency Authority. Based in Laettner, New Felix, the Unified Currency Authority is responsible for all monetary policy in the Federal Republic of New Felix, the Federated States of Samaru, the Varangian Empire, the Industrialist Empire of Tyryte, the Federation of Kamadhatu, and the Open Source of Liberal Technology. Each nation participating in the Authority has a seat at the Board of Governors. This board is responsible for setting the nominal rate of the shared currency, the Argent. This nominal rate is based on theoretical values of each nation's currency, were it to print a national currency. The nominal rate is the value at which the currency will be defended at when floated on the open market. In order to join the UCA, there are strict monetary criteria that are applied to each perspective member's application. These include a status of "frightening" in the JG economic scale and a nominal currency value of 1 national currency unit = NS$1.76 in the Retrograde tracker. PARTNERSHIP FOR PROSPERITY One of the most significant means in which non-members may engage the Union is through its Partnership for Prosperity programme. This programme entitles the applicant nation to negotiate free trade with the Union as a whole. Special fast-track legislative authority has been granted to the Chancellor and High Minister for Trade to enable quick negotiations for Partnership for Prosperity (PfP) Agreements. Please contact the current Chancellor (Galicia-Volhynia) or the High Minister for Trade (Tyryte) to inquire about concluding a PfP Agreement. Current agreements are on the left side of this page. |
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| Wysteria |
| The Heartland |
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