WesWorld

The Regional Asiatic Trade Society involves trade among the Netherlands East Indies, The Kingdom of Siam, San Hianando, the Commonwealth of Australia, and the Sultanate of Brunei, and the United Kingdom colonies of Malaya, Burma, Sarawak, Sabah and Singapore. With the approval of the membership, more countries could be added.

The trade pact effected products produced locally, for the benefit of local peoples.
Goods produced in, for example, the Netherlands, will not qualify, only those physically produced in the Netherlands East Indies.
By providing an incentive for local production, local businesses, and even foreign companies should have increased incentive to produce local goods and thereby provide more employment for local peoples.

The agreement includes caps to maximum tariffs, elimination of trade disrupting subsidization, clear customs procedures and expanded customs ports, and a multi-party arbitration court over trade matters.

Specific provisions include:

Stamp of origin for local products

Cap tariffs at 3% for locally produced goods.

Businesses which receive Government subsidies which exceed their tax burden are ineligible.

Member countries will designate ports for expedited local trade.

At these ports they will undertake : to provide sufficient customs staff to conduct inspections and process paperwork within three days of docking.

Port fees, civil docking, access to dockworkers for local vessels to be equalized with domestic vessels.

Civil repair and support facilities will be made available to local vessels at the same rates as domestic.

Monetary exchange facilities will be made available, at no additional fee and using the prior business day's international rates, at the customs office.

An oversight board for handling complaints will be formed from members. The board will arbitrate disputes and may order corrective measures. The board may also authorize appropriate penalty clauses, including awarding enhanced tariffs, or suspending a member, on a majority vote.