Andorra and San Marino have signed an Association Agreement with the European Commission, bringing both countries closer to the EU and establishing a comprehensive framework for deeper economic and institutional integration.
“By signing this Association Agreement, we open a new chapter of deeper partnership between the European Union, and Andorra and San Marino”, said the EU’s Trade Commissioner Maroš Šefcovic: “It sends the clear signal that at a time of geopolitical uncertainty and growing fragmentation, our answer is not isolation, but partnership.”
The Agreement gives Andorra and San Marino access to the Internal Market under common rules and fair competition conditions. It provides citizens, businesses and public authorities with greater legal certainty and predictability, facilitates trade, supports investment and encourages cross-border economic activity, while respecting the specific characteristics of both partners.
It also sets out a framework for dialogue and cooperation in areas of shared interest, including research and innovation, education, social policy, the environment, consumer protection, culture and regional cooperation.
In financial services, integration will take place gradually and subject to specific conditions, says the Commission. This will include an assessment of the robustness of both partner’s regulatory and supervisory frameworks.
The EU also signed updated Monetary Agreements with Andorra and San Marino to address overlaps with the new Association Agreement and provide greater legal certainty.
Following the signature, the Council will request the consent of the European Parliament before proceeding with the conclusion of the Agreement. It will be ready for provisional application as soon as the respective ratification procedures in Andorra and San Marino allow.
EU relations with non-EU countries in Western Europe (background information)
