August 09, 2021 – Mount Vema is proposing to start negotiations on a 31 billion golles bilateral free trade agreement with the United States which, would make the USA the largest trade partner and import source of the Kingdom of Mount Vema, and its first-largest export destination.
Mount Vema also seeks to sign a deal on 'Double Taxation Avoidance Agreement', if the United States accepts the proposal, which is set to focus on many key economic sectors, including information technology, biotechnology, water management, pharmaceuticals, and agriculture.
With so many trade agreements yet to be signed with other potential trade partners, sources told VSBCnews that Mount Vema officials project a doubling of trade within the next five to ten years from 31 billion golles to 60 billion golles between the two countries if a free trade agreement is successfully negotiated, before other trade deals.
No other floating city or floating city-state in the world will be like Mount Vema, not at least for
the next 100 years, so everything Mount Vema does now is pioneering. The city will have one of the most advanced fiscal system, as well as one of the most dynamic maritime economies in the world.
Although the total estimated value of the City of Mount Vema entire projected real estate is more than 1.6 trillion golles, the estimated annual operational and development expenditure is 120 billion golles estimated from the projected income of 200 billion golles from tourism, exports of fisheries, services, and returns from long term strategic investments.
Why is a trade deal important?
A well-structured trade deal would bring the following benefits to both nations:
So, what do both governments have to do, to get started?
There are many types of trade deals, depending on individual agreements, but the one proposed by Mount Vema incorporates some of the aspects of reciprocal foreign direct investment and works as follows:
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