The European Commission presented, on Monday 29 April, legislative proposals on the conclusion of the Association Agreement between the European Union and Andorra and San Marino, and on the provisional application of this agreement, the negotiations for which were finalised at the end of 2023 (see EUROPE 13312/3).
This association agreement will enable Andorra and San Marino to participate in the EU’s internal market in a way comparable to that enjoyed by Norway, Iceland and Liechtenstein under the Agreement on the European Economic Area, the European institution said in a press release. In particular, access to the internal market for financial services will be gradual and will depend on the results of an audit of the soundness of the supervisory frameworks of the two non-EU European micro-States. According to the Commission, the European Supervisory Authority will play a central role in this audit process.
To see the legislative proposals: https://aeur.eu/f/c02 (Original version in French by Mathieu Bion)