Working with the European Union

In international forums, Monaco shares the values of the European Union and accommodates the majority of requests for support for statements and motions for resolutions submitted by representatives of the European Union.

Monaco actively cooperates with the European Union in matters of targeted financial sanctions (cf. geldefonds.gouv.mc) and fiscal transparency, exchange of information and economic sanctions.

Given these close ties, the European Union and the Principality of Monaco began negotiations on an association agreement in 2015.

The Council of the European Union adopted a mandate entrusting the Commission with the task of negotiating an agreement focused on the four freedoms of the internal market.

These discussions were initiated by the European Commission with Andorra, Monaco, and San Marino (AMS), on the basis of Declaration No. 3 of Article 8 of the Treaty of Lisbon (2009), which states: "The Union will take into account the particular situation of small-sized countries which maintain specific relations of proximity with it".

The decision to suspend these negotiations was taken in 2023 as a result of the shared view of the Principality and the European Union that the Association Agreement model under consideration was unsuitable, particularly with regard to the red lines set out by Monaco at the start of these discussions, which aim to ensure that the current living, working and housing conditions of Monegasques and residents in the Principality are maintained.

Despite this decision, the Principality of Monaco and the European institutions continue to work towards deepening discussions, cooperation, and exchanges in all areas, and in particular with the aim of bringing the two parties' regulatory frameworks closer together.