OOC Source: USA TodayBekenial: President Suso has yesterday concluded a state visit to the Kingdom of Hutori in what is the first dealings with a nation outside of Dovani in decades. The president, who arrived with his presidential jet, was welcomed by the Hutorian Prime Minister before touring the capital of Bekenial and ending the tour at the government quarters, where the President and his delegation met their Hutorian counterparts. The intention of the dealings was to make the first steps into opening up the Istapalian economy to more outside investment, allowing it to grow and preserve that growth. While President Suso thus came to Hutori to open our arms he made clear that Istapali remains a protectionist nation and that this deal was merely meant to explore possibilities, not open the entire economy to outside influence.
After days of negotiations the two sides released a joint statement announcing the details of the agreed upon deal. The deal, named the Hutori-Istapali Economic Partnership, would see the Hutorian automotive company Ross Motors purchase 20% of stake into the three largest heavy machinery companies in Istapali, those being Tetra Machines, Gjango Group and Ascar Manufacturing. Ross Motors will subsequently become the companies largest buyer. Furthermore in an effort to jumpstart the Istapali tech sector Lexington Entertainment will construct a tech hub in the country with help from the Hutorian International Development Corporation, allowing the Istapali economy to learn from their expertise and possibly have more Istapali companies grow in this sector. Horizon Technology will in its turn invest into the creation of a large web and network to ensure better connectivity and propell the Istapali economy into the digital age quicker. One precondition for this was that Istapali companies will keep a majority of these networks under their management, while most profit would go to Horizon Technology in the first few years of the deal.
Last but not least the deal opens up Istapali opportunities in Hutori as well. It allows Istapali construction firms such as Mira Construction and the Umtol Construction Group to freely apply for contracts within Hutori, giving them a priviliged position inside the Hutorian construction market. Furthermore companies producing heavy machinery, like the afformentioned Ascar Manufacturing, will be allowed to apply for a license to sell directly into the Hutorian market, cutting costs dramatically for these companies.
It is expected that the entire HIEP deal will be ratified by both nations in the coming months, opening up a mountain of economic possibility and accelerating economic development within Istapali.