The Minister for Economics, Trade and Commerce alongside the Minister for foreign Affairs and the Prime Minister announced that “the Index” has been finished. “It lists every country in the South Pacific and ranks them on the democracy scale. The scale is the basis for the trizonal mode for trade. According to this scale, nations which have a rating of higher than 7,75 are eligible for zone 1 in which vast free trade agreements (FTAs) are possible. Countries with an index between 7,75 and 5 are sorted into zone 2, with possible FTAs for certain sectors but largely bilateral contracts to lower the import tax/duty. Lastly nations under the index 5 are sorted into the zone 3 where either there is restricted, very low or nonexistent due to embargo etc.” explained minister Grom (Economics). The foreign minister said that “it is a step forward for Eflad to categorise the nations into those Eflad is ready to trade with. Due to the very low threshold of the index 5, only few nations fall into zone 3. This is our invitation for foreign nation to approach us in a meaningful way, without pretending.”
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