Andorra hosts the Annual Meeting of the Joint Committee of the Monetary Agreement

Joint Committee of the Monetary Agreement

19/11/2019

Last Tuesday, Andorra hosted the Annual Meeting of the Joint Committee of the Monetary Agreement between the Principality and the European Union. The agreement, signed in 2011, entitles the country to issue euro coins and is accompanied by an annex listing the legal provisions that the Government of Andorra has to implement, either by direct transposition or by the adoption of equivalent measures on banknotes and coins, banking and financial legislation, AML legislation, prevention of fraud and collection of statistical data. Thus, the Joint Committee meets annually to stablish the timing of the new arrangements included in the annex. This year, as the Presidency is held by Andorra, the meeting took place within the country.

Both Delegations congratulated themselves for the meeting, during which agreements on the incorporation of new legal acts were adopted. The meeting also emphasized the works carried out by Andorra over the last year, as well as the reforms that have been carried out as part of an overall strategy of homologation to international standards.

The Andorran Delegation was headed by the Secretary of State of International Financial Affairs, Marc Ballestà, the Head of Mission and Ambassador of Andorra in the EU, Esther Rabassa, and Representatives of the Ministries of Finance, Foreign Affairs, Justice and Home Affairs, of the AREB, the AFA and the UIFAND. The European Union Delegation was led by the Head of DG ECFIN (European Commission), Johan Khouw, who was accompanied by Representatives of the Commission’s Directorate General for Economic and Financial Affairs, the European Central Bank, the Spanish Treasury, the Bank of Spain and the Bank of France.

Source: The Government of Andorra's Department of Communication