Friday, November 22, 2024

St Kitts establishes diplomatic relations with San marino

St Kitts and San Marino signed an agreement to establish diplomatic relations between two countries.

 

During a brief ceremony held on 25thSeptember, 2018, in the margins of the 73rdUnited Nations General Assembly, the Honourable Mark Brantley, signed a Joint Communique to establish diplomatic relations with the Republic of San Marino.

 

The Foreign Ministers discussed areas of potential strong bilateral cooperation and expressed high interest in signing a mutual visa waiver between St. Kitts and Nevis and San Marino shortly.

 


 

San Marino, known as the 3rd smallest European state with a population of 35,000, has an economy bustling mainly with tourism and banking activities. The country is an enclaved microstate surrounded by Italy.

 

The San Marino’s economy mainly relies on finance, industry, services and tourism. It is among the wealthiest countries in the world in terms of GDP (per capita), with a figure comparable to the most developed European regions. San Marino is considered to have a highly stable economy, with one of the lowest unemployment rates in Europe, no national debt and a budget surplus. It is the only country with more vehicles than people.

 

San Marino is not a European Union member, it is allowed to use the euro as its currency by arrangement with the Council of the European Union;

 

The tourism sector contributes over 22% of San Marino’s GDP, with approximately 2 million tourists having visited in 2014.

 

San Marino has a population of approximately 33,000, with 4,800 foreign residents, most of whom are Italian citizens.

 

Prabhu Balakrishnan
Prabhu Balakrishnan
Founder of Citizenship by Investment News. Chief Editor with over 15 years experience in PR and News publishing. He Loves writing about citizenship, residency and wealth migration. CIP Journal is a Leading publication founded in 2017 bringing latest news from CBI/RBI market.

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