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.
Historic day for #StKitts #Nevis as we enter formal diplomatic relations with #SanMarino in the margins of #UNGA73. Delighted to meet Foreign Minister Nicola Renzi and to discuss matters of mutual interest between our two countries #DiplomacyMatters pic.twitter.com/3tUgHsHW2V
— Hon. Mark Brantley (@markbrantley3) September 25, 2018
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.
