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Distributed: 13:50 GMT+8, 19th June 2025 Issued by: FEALAC Shangri-La Dialogue Edition

Section: America out of my Backyard!

The New Confederation of Americas (Brazil + USA) has begun deporting Chinese and other citizens from socialist sister countries to work in U-238 mines. In other news, the "No USA" chants have failed since its the new reborn America.

Also thanks to Israeli WMD export stockpile, all FEALAC states now have (at least) one (1) single nuclear bomb. "FEALAC started off without Trump, now let's kick this guy out!"

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Distributed: 13:30 GMT+8, 19th June 2025 Issued by: FEALAC Shangri-La Dialogue Edition

Section: Bigger Boom!

In the Q2 hottest FIFA World Cup 2025 match between Brazil and China, the Brazillians would have lost their way... Until they rigged the footballs to become self-implosive nuclear bombs and destroyed the stadium. The Foreign Minister of China, recognising their volatility in their international standing, has already set sail to Tibet and Taipei.

In response, Trump has begun raising 12.5% tariffs on nuclear-bomb-footballs from all countries in order to make America great again.

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Distributed: 13:00 GMT+8, 19th June 2025 Issued by: FEALAC Shangri-La Dialogue Edition?

Section: BIG BOOM!

All is fair in love... and war. China has sent 20 nuclear torpedoes to the Nine Dash Line and is now mobilising 5,000 fighter jets with nuclear torpedo capabilities en route to Chinese Taipei. In other news, classified documents reveal that the Communist Party of Vietnam has procured 9 billion tonnes of U-235, with the General Secretary vowing to level the cities of Panama and the United States with their newly developed nuclear arsenal.

In retaliation, Israel has begun selling chemical and biological WMDs to all OAS states. "Feels bad that OAS is left out while ASEAN is having fun," The Israeli Ministry of Defence declared on its X (formerly Twitter) site.

In other news about "sustainable ocean governance", oceans look like they are about to explode too.

#ohno

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Distributed: 10:40 GMT+8, 19th June 2025 Compiled by: FEALAC Cyber Secretariat and Leaked Memos from State Ministries Compiled from national submissions, open-source monitoring, and select diplomatic cables. Circulation is of utmost confidentiality.

Section I: Captain Hook has Us Hooked!

Lack of regulation spirals into the concentration of activity in the Sulu-Sulawesi Corridor and the naval EEZs west of South America. In the wee hours of the morning, 20 unidentified naval vessels bearing the flags of Honduras, Peru and Uruguay were spotted within 2 nautical miles at Penang coastal waters near Butterworth. Nearby local commercial and personal vessels were immediately spotted to be sinking, incurring the wrath of Malaysians. The FEALAC SOM is visibly alarmed by the presence of non-state-sanctioned fishing vessels now actively harming local infrastructure.

Section II: Explosively Escalating in my Backyard

New revelations have emerged regarding the relationship between the Burmese and the Chinese government. A Junta official who has requested anonymity in fear of retribution reported that: “We have just received an arms shipment containing 1 ton of ammunition, 2000 AK-47s, and 1000 grenade launchers”. This underscores the pervasiveness of the illicit arms trade and highlights the limitations of arms embargoes imposed on nations. The White House released a statement shortly afterwards, criticising China for its role in “fuelling instability in the ASEAN region” and “engaging in state-funded terrorism”.

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Distributed: 10:00 GMT+8, 19th June 2025 Compiled by: FEALAC Cyber Secretariat Singapore Bureau (Republic of Singapore) Compiled from national submissions, open-source monitoring, and select diplomatic cables. Circulation is of utmost confidentiality.

Section: Two Hurricanes Clash?

Temporary Storms of economic ecllipse renders ocean governance futile in light of logistical faultlines. A report by the CELAC Chairman was found quoting, "My counterparts in FEALAC has noted a discussion in ocean governance, yet discussions lack depth, and notably knowledge on the topic itself. Seabed Mining encompasses regulatory clauses for Trans-national Organisations to extort minerals while IUUs are targetted on fisheries. If it were me, I would not clump these two agendas and instead, pick one to debate upon right now." As inaction looms in the troubled waters, a Malaysian naval asset en route to East Sabah has now been rerouted and spotted in West Peruvian coasts. Peruvian anchovies are projected to deplete by 50% within the medium term, harming local food stockpile. In retaliation, the Penang administration has been accused of Latin American, particularly Peruvian, naval ships of raising flags of convenience, as well as knowingly fuelling the resource depletion through permitting pilot nodule extraction tests. Seabed mining? IUU? What do we want?

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Distributed: 09:15 GMT+8, 19th June 2025 Compiled by: FEALAC Cyber Secretariat and Memos from State Ministries Compiled from national submissions, open-source monitoring, and select diplomatic cables. Circulation is of utmost confidentiality.

Section I: Stricken with Fear

Amidst the long-term Paraguayan insurgency struggle, today six suicide bombers have destroyed strategic buildings and injured many others near the borders, which is suspected to be linked to the rebel Paraguayan People's Army and its affiliated dissidents. Following a 47% spike in sabotage incidents, Paraguay has denounced the non-state "terrorist groups" and intensified military operations in the northeast. The spillover economic effects are alarming - the ambush of an agro-export convey en route to the Far East halted grain shipments valued at around US$38 million. Suspicions arise over Russian agent involvement. A regionally concerned security analyst from IISS notes that "the last and only hope" is a transregional comprehensive suppression strategy coordinated with regional stakeholders, before insurgents in other states jump the bandwagon.

Section II: Surfing Two Troubled Tides

The tandem of transpacific challenges of IUU and deep-sea mining are now rocking the unity of FEALAC violently. As Malaysian-Indonesian joint patrols see limited success in mitigating mutual IUU incursions, Malaysian President Anwar has unilaterally proclaimed to ramp up "ocean stewardship against illegal fleets". However, Subianto has condemned Malaysia's deployment of expanded naval assets to the contested East Sabah waters. In light of IUU depleting local Latin American resources, Peru's Ministry of Production launched the "Make our Seas Great Again" Initiative by permitting ocean nodule extraction, accredited with 4 exploration licenses issued to Brazilian and Ecuadorian firms, west of Peruvian coasts. Costa Rican aquaculture conglomerate has denounced the administration's pivot to opening up ocean activities and exacerbating resource extraction along strategic maritime routes, calling for the end of "overfishing and overmining that will destroy the Pacific Ocean."

Section III: This Ain't Right(s)

In Q1, humanitarian monitors from UNHRC and OHCHR have confirmed the mass displacement of 20k Torres Strait Islander residents from the Keeling Islands in Australia. Deemed a violation of their fundamental human rights, the reports indicate a series of coordinated land seizures, targeted arsons and communal land takeovers through collective contract substitution, perpetrated by both state and non-state actors. In a letter written by an Australian collective to the Secretariat of the United Nations, they are appealing for transregional coordination of the Responsibility to Protect (R2P) doctrine so that further losses are no longer incurred.

Annex:

Transregional Funding Mechanism Receipt No. 4 FEALAC Steering Committee/2025/06/18 Brunei +$ 3,500,000 China +$ 3,000,000 Indonesia +$ 2,000,000 -------------------------------- Total TRFM +$ 8,500,000 TOTAL TREASURY $ 31,593,000 REMARKS: N.A.

In the Trust Fund Headquarters, an HR worker laments, "Why are states tossing money without outlining how they want it spent?"

On 18th June, the Steering Committee, convened by Philippines, Vietnam, Bolivia and Brazil, have jointly pledged US$13,907,000 on FEALAC-endorsed frameworks, in abbreviation, IAMOE, CAT, FTDEX, TIH, TIES, IPP, as well as a Whistleblowing Hotline.

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Distributed: 18:20 GMT+9, 18th June 2025 Issued by: FEALAC Cyber Secretariat Tokyo Bureau (Japan)

DEUS EX MACHINA

The FEALAC bureau shall now enter a perpetual unmoderated caucus to entertain a Draft Declaration Statement and TFA.

EDIT:

"In Singapore Time, we unequivocally demand they send it all in by 5.45pm GMT+8, no exceptions."

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Distributed: 16:15 GMT+8, 18th June 2025 Issued by: FEALAC Cyber Secretariat Kuala Lumpur Bureau (Malaysia)

Section: Brewing Storms of Calamity

Illegal, unreported and unregulated fishing fleets continue to exploit FEALAC's rich marine ecosystems with alarming intensity. In June 2025, satellite-based monitoring by the UNFAO Committee on Fisheries reports a 31.4% rise in suspected IUU fishing incidents in the South China Sea and other strategic maritime routes in East Asia. Taipei has flagged over 230 commercial and personal vessels that were found operating with transponders disabled in international waters within 200 nautical miles. Despite Indonesian and Philippine joint maritime patrols, international traffic along the Panama Canal as slowed down by 12% due to enforcement spillovers on commercial shipping. A transpacific governance gap cracks open and unravels in how FEALAC states regulate resource extraction in high-traffic maritime corridors. With the incursions of East Asian distant-water fleets from Latin American EEZs now coupled with Latin American artisanal vessels conducting suspicious deep-sea mining activities in Far Eastern waters, the tides of political stability (and mutual finger-pointing) are swirling.

Annex

Transregional Funding Mechanism Receipt No. 3 FEALAC Steering Committee/2025/06/18 China +$ 3,000,000 Indonesia +$ 2,000,000 Singapore +$ 3,000,000 ------------------------------- Total TRFM +$ 8,000,000 TOTAL TREASURY $ 37,000,000 REMARKS: N.A.

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Distributed: 03:45 GMT-3, 18th June 2025 Issued by: FEALAC Cyber Secretariat Paramaribo Bureau (Republic of Suriname)

Section I: Tourists off My Backyard!

In Malaysia, the federal state of Sabah has reported a 34.7% surge in international tourist arrivals in Q1 2025, primarily from Argentina and Suriname, following the launch of ecotourism packages and plurilateral travel corridors. Homestay networks and indigenous Borneo cultural trekking routes, marketed as "authentic" indigenous experiences, are augmenting. However the state's Human Rights Commission of Malaysia (SUHAKAM) flagged that only 12% of registered tourism operators are community-owned. A Kadazan-Dusun law student alleged that multinational corporations exercised procedural exclusion in terms of distributing tour profits and land-use conversion permits for their resorts. The deficiency of robust, enforceable protections of states' locals and culture looms.

Section II: No longer the same Deep Blue

FEALAC's trade routes and ships all sail the Pacific littoral from East Asia to the Latin Americas (and vice versa), where economic opportunity stands on a precarious precipice against environmental calamity. Maritime traffic has surged 30% since FY2024. Contrastingly, Laotian and Filipino fishing fleets have been repeatedly caught operating within Ecuadorian and Uruguay exclusive economic zones, declining critical fish stock by 12% since Q1. "With those imperialist fleets stealing our food, I no longer have high-value sea cucumbers to eat, let alone sell!", A native fisherman from the Galápagos Islands dissents. With dwindling catches and food security on the lifeline, state authorities in transpacific coasts are now in disarray.

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Distributed: 11:10 GMT+8, 18th June 2025 Issued by: FEALAC Cyber Secretariat Beijing Bureau (People's Republic of China)

Section I: Tourism in the Trenches

In Peru, a leaked internal memo from the Ministry of Foreign Trade and Tourism proposed limiting Indigenous-led businesses and operations at Machu Picchu to "boost licensed tourist companies' competitiveness". In response, 5k Quechua collectives staged protests refusing access along the Inca Trail, resulting in a projected medium-term 0.80% reduction of Peruvian GDP.

Simultaneously, the fortunes of tourism sectors across the globe are mixed. 5 nations faces severe underinvestment and safety concerns that limit tourist inflows, hampering potential growth, while grapple with balancing conservation and economic benefit. Tourism’s volatility is amplified by geopolitical tensions, currency fluctuations, and climate shocks. Japan’s inbound tourism to Latin America slowed by 8% amid economic tightening at home, while Bolivia’s high-altitude attractions remain underdeveloped due to infrastructure gaps.

Section II: The Fine Line for Duality

A sweeping audit by the Mexican Directorate for Strategic Trade reveals regulatory arbitrage zones proliferating in Brunei and Singapore, where bonded warehouse hubs process high-risk tech with minimal scrutiny. In Argentina, leaked communications show engineers at a Sino-Argentine satellite launch site flagged 15 unregistered cryptographic modules embedded into orbital payloads. Chilean authorities seized a bulk consignment of GPS chipsets traced from Uruguay to Myanmar via a Panamanian shell. What has traded as hardware now shadows a geopolitical software war, and political analysts are concerned that states' lack of ratification of existing regulatory mechanisms may heighten the security risks embedded in private commercial trade by non-state actors.

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Distributed: 11:30 GMT+10, 18th June 2025 Issued by: FEALAC Cyber Secretariat Canberra Bureau (Commonwealth of Australia)

Section I: Transregional or 'Minilateral'?

The sustained rise of sectoral trade barriers across FEALAC has triggered a pivot from broader liberalisation to what regional economists coin a "plurilateral pragmatism". In a MoU signed between Ecuador, Chile and Japan, sectoral FTAs covering rare earth elements, oil and gas have rejuvenated bilateral mineral and energy trade volumes by 19%, whilst mitigating the volatility caused by broader and other sector-strategic tax regimes. If talks of a comprehensive transregional liberalisation effort ever stall, states may identify strategic sectors to initiate pragmatic, rule-based trade frameworks with aligned partners.

Section II: No Time to Relax in Tourism

A booming trajectory of tourism in FEALAC economies has now deepened political fault lines. In Cambodia, the inflow of Chinese and even Latin American visitors has given rise to a Q2 30% increase in tourism revenue. This rebound has triggered mounting infrastructural stress, with local governments in Phnom Penh and Sihanoukville declaring partial water rationing and hospital overcrowding alerts. Renewed popularity of the Angkor Wat have reignited disputes over cultural commodification, with community groups accusing states of prioritising foreign capital over local heritage protection. "If Angkor Wat continues to be underfunded in cultural preservation," a native Khmer laments, "then Wat is left of our historical legacy and people?" As transregional dependency on tourism deepens and stands closer to a precipice, its divergent factors and problems must be addressed. Fast.

Section III: Sensors? Semiconductors? Sanctionable?

Dual-use ambiguity has bogged down FEALAC's safe and fair trade architecture for civilian purposes. In the past six months alone, custom authorities across Vietnam and Uruguay reported 20 intercepted shipments flagged under dual-use export regimes -lithium-ion components disguised as "agricultural modules", gallium AI-empowered chips specialising in surveillance drone retrofits, a time-of-flight sensor integrated with self-explosive capabilities. Geopolitical software friction runs risks of deepening, as regulatory gaps in national export control emerge.

Annex

On 17th June, the Steering Committee, convened by Cambodia, Cuba, Peru and South Korea, have jointly pledged:

US$1,500,000 to convene a Digital Trade Platform and Biannual Forum under the Trade Access and Growth (TAG) Initiative,

US$1,000,000 to initiate Peru's Initiative of "Review And Implementation of Deescalation" (RAID) to bolster trade accountability between states.

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Distributed: 05:00 GMT-4, 17th June 2025 Issued by: FEALAC Cyber Secretariat Santiago Bureau (Republic of Chile) Compiled from national submissions, open-source monitoring, and select diplomatic cables. Circulation restricted to delegates and accredited observers.

Section I: Falling Dominoes of Tariffs

The warm, open winds of globalisation have given way to the cold, harsh winds of reverse globalisation. One by one, countries are becoming increasingly suspicious of each other and have begun to pull their shutters down, in the hopes of protecting their domestic industries.

The White House had received information that the OAS had engaged in talks about reducing reliance on the US. In response to such rhetoric, Trump has threatened to levy additional tariffs on members of the OAS. With the US accounting for 60% of Mexico's exports in 2024, there is a lot at stake. ASEAN is not safe either. Trump is threatening to levy tariffs as high as 500% on products from Thailand. For example, leaked CIA reports that a tariff rate of 480% may be levied on Thailand Coconuts; with the US accounting for 10% of Thailand’s GDP, analysts estimate that a 40% tariff rate could put around 5% of its GDP in peril.

As downstream sectors in global value chains are suffering behind exorbitant tariffs and longstanding partnerships coming under threat, time is nigh for immediate bilateral and plurilateral actions.

Section II: Unfair Trade for a Cleaner Future

The integrity of carbon credit schemes and fair trade certifications is unravelling under pressure from greenwashing and enforcement gaps. Thailand's high-profile rare earth element extraction projects, touted as “climate-friendly,” have been implicated in carbon credit sales backed by inflated emission reduction claims. Independent auditors found that more than 18% of credits linked to Thailand's lithium mining in 2024 were double-counted or sourced from environmentally questionable projects. National inspectors across the Colombian oil conglomerate details leaked and internal strategies to circumvent fair trade criteria by exploiting lax auditing in supplier networks. Fair trade labels are on the verge of collapse, potentially eroding consumer trust and ethics in marketing and branding.

Section III: Annex on Happier Labourers

Both regions have passed their respective Resolutions, encapsulating the Question of Labour Mobility and Human Trafficking. While East Asia has agreed to build robust cross-border monitoring and rehabilitation programmes for trafficked victims, OAS has taken a further step to mandate fair employment practices, insofar as to ratify ILO's Convention No. 181 (Private Employment Agencies Convention 1997). In Q2, East Asia and Latin America national labour inspectorates have successfully identified and rehabilitated north of 500k victims of trafficking-in-person. According to the Chilean Ministry of Labour, while over 24k digital platform-based cleaners were denied backpay after not reaching the AI-calculated threshold for minimum workers in Q1, but the situation has ameliorated. "I can now better bargain with my service providers on fairer wages and working conditions," a Chilean cleaner who has recovered from PTSD and depression proudly says. Suffice it to say, FEALAC has satisfactorily addressed regulatory gaps in transregional labour mobility.

Annex

Transregional Funding Mechanism Receipt No. 2 FEALAC Steering Committee/2025/06/17 Brazil +$ 5,000,000 ------------------------------ Total TRFM +$ 5,000,000 TOTAL TREASURY $ 31,500,000 REMARKS: N.A.

The Secretary-General notes that all TRFM funding and TFA expenditures are detailed in the Trust Fund sheet available in the Delegates' Drive.

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Distributed: 13:00 GMT+8, 17th June 2025 Issued by: FEALAC Cyber Secretariat Singapore Bureau (Republic of Singapore) Compiled from national submissions, open-source monitoring, and select diplomatic cables. Circulation restricted to delegates and accredited observers.

Section I: Time's Ticking

In light of the FEALAC's lack of decisiveness in passing a Declaration Statement, political analyst Mr Eyewahn Eckshen sombrely advises, "FEALAC needs efficiency and quality to resolve the multitude of transpacific challenges." Moving forward, Singapore Prime Minister Wong vowed to "re-emulate the spirit of former PM Goh" by restoring the organisation’s transregional mandate and public faith.

Section II: Tariffs in My Backyard

The Philippines’ 5% “digital sovereignty surcharge” disrupted Malaysian and Singaporean cloud-based services overnight, with the Malaysian National Computer Confederation reporting a Q2 revenue contraction of USD 210 million in private digital SMEs. In light of PASFTA, Singapore and Mexico have deepened bilateral fast-track customs lanes for power grids, bypassing transregional harmonisation frameworks. In other news, the byword of Trump-styled protectionism ("tariffs") now rears the emergence of states securing upstream control in mineral and energy value chains. Brazil’s Ministry of Industry, under the "Brazil National Energy Initiaitive", launched a tiered tariff scheme of up to 12% on lithium carbonate imports from South Korea to incentivise local refining capacity. Instead, Brazilian battery manufacturers face a 21% rise in cathode production costs since FY2024. In response, the CEO of Korea's LG Energy Solution jests, "The more you charge up upstream tariffs, the more your batterymakers get charged up."

Annex

Transregional Funding Mechanism Receipt No. 1 FEALAC Steering Committee/2025/06/16 Japan +$ 6,000,000 South Korea +$ 5,000,000 Singapore +$ 5,000,000 Brunei +$ 3,000,000 China +$ 2,500,000 ------------------------------ Total TRFM +$ 21,500,000 TOTAL TREASURY $ 26,500,000 REMARKS: These contributions will be used to support any initiatives which require additional funding.

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Distributed: 15:00 GMT+8, 16th June 2025 Issued by: FEALAC Cyber Secretariat Ulaanbaatar Bureau (Mongolian People's Republic) Compiled from national submissions, open-source monitoring, and select diplomatic cables. Circulation restricted to delegates, the FEALAC Steering Committee and accredited observers.

Section I: The Exploited Labourer.

Forced labour still runs rampant, either in terms of smuggling or more importantly, unfair employment practices. Compiled data by the ILO and Pacific Rim national labour inspectorates indicate that an estimated 41% of FEALAC-region workers in cross-border low-wage sectors are employed under substandard working conditions. 10k Burmese workers in São Paulo's processing plants are found to have incurred a pre-departure debt of at least USD $3000, with repayments deducted from already meagre wages across 3 months. As human trafficking resumes underway in FEALAC discussions, recent cases such as that of Honduras and Malaysia document workers from rural Vietnam and Peru in seafood processing and garment manufacturing, without legally guaranteed rest days, sick leave, or minimum wage adherence. Some workers pointed out that their employers have unfairly and unilaterally imposed contract substitutions. While tripartite cross-border initiatives launched by Bolivia, Peru and Ecuador have addressed regulatory gaps in illicit smuggling, the fair and legal protection of trans-regional labourers remains elusive. As an eccentric mathematician notes, Trafficking = (Smuggling + Working Conditions + Payment)/3

Section II: Shield for Sword, Tit for Tat

Chilean March 2025 tariff hike on imported semiconductor chips has frozen key supply chains from Korea and Vietnam, while China's expansive "Resilient Inputs Act" reclassified 47 agricultural commodities as strategic, curtailing soybean and maize imports from Brazil and Mexico. The protective shield is fast becoming a wedge, overshadowing free trade agreement talks and considerations of a plurilateral consultation protocol.

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Distributed: 00:00 GMT-6, 16 June 2025 Issued by: FEALAC Cyber Secretariat Tegucigalpa Bureau (Republic of Honduras) Compiled from national submissions, open-source monitoring, and select diplomatic cables. Circulation restricted to delegates and accredited observers.

Section: Fluidity in Labour Duty

The economically incentivising migration corridors have led to the rise of agile, low-commitment labour in a "precarity lattice". In Q2 2025, eight FEALAC member states reported a collective 20% increase in platform-based employment. Yet only two have adjusted labour regulations to cover algorithmic job allocation, legal employment conditions or contract substitution cases. Political analysts note that less than half of FEALAC states subscribe to labour recruitment licensing protocols aligned with the International Labour Organisation Convention 181. Guatemala and Ecuador cited increased returns of 1.44k undocumented minors from both Thailand and Vietnam across gold mines, coffee plantations and even uncovered drug cartel warehouses. Meanwhile, a proposed cross-border gig workers’ charter, led by Uruguay and Thailand, remains stalled after objections from a Pacific Rim logistics consortium. The CEO of a Construction Company from Thailand joked: ‘Do we really need to consider whether non-territorial work from other countries requires supranational protections? We will get it our way!’

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Distributed: 14:00 GMT+9, 16 June 2025 Issued by: FEALAC Cyber Secretariat Seoul Bureau (Republic of Korea) Compiled from national submissions, open-source monitoring, and select diplomatic cables. Circulation restricted to delegates and accredited observers.

Section I: Borders in Flux, Bodies in Transit

While official intergovernmental labour pacts have grown by 22% year-on-year, driven largely by manufacturing and eldercare channel agreements, unauthorised migration also surged. A recent joint task force report estimates that over 68,000 workers moved through unregulated trans-Pacific corridors in the past 12 months. UNODC and INTERPOL documented a 19% uptick in intercontinental trafficking incidents involving FEALAC nationals, with record Latin American migrants trafficked through Transpacific maritime routes, including the Malacca Straits in Southeast Asia. The report also documents seasonal East Asian nationals exploited in São Paulo's agricultural processing plants, via falsified documentation in Panama and Colombia. Private recruitment agencies remain lightly regulated since of concern are the “twin pipelines”, with their legal labour schemes on paper, but riddled with informal brokerage and coercive debt structures. A diplomat said behind closed doors, "We built corridors for jobs. Instead, we opened tunnels for abuse."

Section II: Carbon Chase, a Rising Market

Carbon markets across FEALAC are expanding rapidly, driven by escalating climate commitments and private-sector momentum. Between 2023 and 2025, trading volume in carbon credits surged 63%, with the Mexican Emissions Trading System (METS) alone processing over 11 million tonnes of CO₂ equivalent in Q1 2025. However, this carbon credit boom is shadowed by volatility and regulatory gaps. Chile's aggressive carbon tax regime and expanded trading scheme sparked pushback from Argentine exporters, who reported a 37% decline in competitiveness for agro-industrial products since January 2025. As part of President Subianto's nationwide plans to minimise GHG, Indonesia's newly launched "Green Credit Initiative" has attracted USD 500 million in private capital and bonds, but remains stymied by lax eligibility criteria and scepticism over environmental integrity. Political analysts note that, "Musim Mas Group is actively deforesting behind the sale of carbon credits, whilst other palm oil corporations are actively trading credits in dubious additionality claims." The rapid commodification of carbon, granted laissez-faire conditions without regulatory governance, risks delegitimising environmental compliance and extractive dynamics.