On the basis of this report, the Commission and the Council have maintained two options: participation in the European Economic Area and the negotiation of one or more association framework agreements. (Council conclusions of 20 December 2012, document 17591/12). Horizontally, the same institutional issues will be on the table as in other AEAs of this type, whether in bilateral agreements with Switzerland or in the withdrawal agreement with the United Kingdom. Accordingly, the Council`s conclusions call for a coherent institutional framework, effective and effective in support of the agreement, which (1) includes a consultation forum between the parties to ensure the smooth functioning and proper implementation of the agreement (2), ensures the dynamic adoption of the EU acquis by the three countries (3), ensures uniform enforcement and a uniform interpretation of the provisions of the agreement and (4) includes a fair, effective and effective dispute resolution mechanism. In November 2013, the Commission adopted a report concluding that the negotiation of one or more association agreements was the most feasible of the two options. In the report, he also set out the main principles behind the negotiations: respect for common values, the need to ensure the homogeneity and proper functioning of the internal market and the consideration of the specificities of countries with a small territorial dimension (COM Report (2013) 793). Another agreement affecting the three AMS states is the taxation of savings income, which was the result of a global campaign to eliminate money laundering and the tax shield. In the case of the EU, the agreement also aimed to force “offshore financial centres” to comply with EU standards. Relations between the Principality of Monaco and the European Union (EU) are mainly through France. Through this relationship, Monaco is directly involved in some EU policies. Monaco is an integral part of the EU`s customs territory and VAT and therefore applies most measures on excise duty and VAT.  Monaco borders an EU member state: France.
However, this relationship does not extend to foreign trade. Preferential trade agreements between the EU and third countries apply only to goods from customs territory – Monaco must not claim the origin of the EU in this regard.  In general, the EU, in its agreements with third countries, aims to ensure a balance between benefits and obligations.
Sunday, April 11th, 2021
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