Monaco

Abstract

Wikipedia Country Information

Monaco ( ( listen); French pronunciation: ​[mɔnako]), officially the Principality of Monaco (French: Principauté de Monaco), is a sovereign city-state, country and microstate located on the French Riviera in Western Europe. France borders the country on three sides while the other side borders the Mediterranean Sea. Monaco has an area of 2.02 km2 (0.78 sq mi) and a population of about 38,400, according to the last census of 2016. With 19,009 inhabitants per km², it is the second-smallest and most densely populated sovereign state in the world. Monaco has a land border of 5.47 km (3.40 mi), a coastline of 3.83 km (2.38 mi), and a width that varies between 1,700 and 349 m (1,859 and 382 yd). The highest point in the country is a narrow pathway named Chemin des Révoires on the slopes of Mont Agel, in the Les Révoires Ward, which is 161 metres (528 feet) above sea level. Monaco's most populous Quartier is Monte Carlo and the most populous Ward is Larvotto/Bas Moulins. Through land reclamation, Monaco's land mass has expanded by twenty percent; in 2005, it had an area of only 1.974 km2 (0.762 sq mi). Monaco is known as a playground for the rich and famous, due to its tax laws. In 2014, it was noted about 30% of the population was made up of millionaires, more than in Zürich or Geneva.
Monaco is a principality governed under a form of constitutional monarchy, with Prince Albert II as head of state. Although Prince Albert II is a constitutional monarch, he wields immense political power. The House of Grimaldi have ruled Monaco, with brief interruptions, since 1297. The official language is French, but Monégasque, Italian, and English are widely spoken and understood. The state's sovereignty was officially recognized by the Franco-Monegasque Treaty of 1861, with Monaco becoming a full United Nations voting member in 1993. Despite Monaco's independence and separate foreign policy, its defense is the responsibility of France. However, Monaco does maintain two small military units.
Economic development was spurred in the late 19th century with the opening of the country's first casino, Monte Carlo, and a railway connection to Paris. Since then, Monaco's mild climate, scenery, and gambling facilities have contributed to the principality's status as a tourist destination and recreation center for the rich. In more recent years, Monaco has become a major banking center and has sought to diversify its economy into the services sector and small, high-value-added, non-polluting industries. The state has no income tax, low business taxes, and is well known for being a tax haven. It is also the host of the annual street circuit motor race Monaco Grand Prix, one of the original Grands Prix of Formula One.
Monaco is not formally a part of the European Union (EU), but it participates in certain EU policies, including customs and border controls. Through its relationship with France, Monaco uses the euro as its sole currency (prior to this it used the Monégasque franc). Monaco joined the Council of Europe in 2004. It is a member of the Organisation Internationale de la Francophonie (OIF).


Summary
Instruments ratified: 102 / 282
World Average Ratifications: 114 / 282
Ratification rate: 28.59%
World Average Rate: 41.25%
Weighted score: 30.36%
World Average Weighted Score: 41.25%
World rank: 160 / 194
Developed country rank: 26 / 30
Developed country Avg. Ratifications: 159 / 282
Western Europe rank: 10 / 10
Western Europe Avg. Ratifications: 169 / 282
Comparative Statistical Analysis
CONTRACTSInst. ratifiedCountry scoreWorld avg. scoreCountry rank in worldStrength
Agency0/20.00%2.00%8Weak
Conflict of laws1/7 (14.29%)14.29%3.00%9Strong
E-commerce0/30.00%18.00%70Weak
Franchising0/10.00%0.00%1Average
Leasing/Factoring0/20.00%5.00%13Weak
Principles, trade usages and standards0/20.00%0.00%1Average
Procurement0/40.00%3.00%31Weak
Sale of Goods0/50.00%25.00%89Weak
Travel contracts0/10.00%3.00%7Weak
Total11.45%9.00%138Weak
 
CUSTOMSInst. ratifiedCountry scoreWorld avg. scoreCountry rank in worldStrength
Customs Codification0/30.00%78.00%153Weak
Customs Cooperation0/60.00%26.00%117Weak
Exemption from Duties1/9 (11.11%)11.11%30.00%109Weak
Temporary Admission0/110.00%28.00%126Weak
Transit0/40.00%28.00%98Weak
Total13.26%31.00%168Weak
 
DISPUTE RESOLUTIONInst. ratifiedCountry scoreWorld avg. scoreCountry rank in worldStrength
Arbitration2/6 (33.33%)30.00%32.00%84Weak
Judicial cooperation3/5 (60.00%)78.95%36.00%42Strong
Recognition of foreign judgments0/20.00%2.00%6Weak
State court jurisdiction0/40.00%14.00%29Weak
State court procedure0/10.00%6.00%12Weak
State immunities 0/10.00%11.00%22Weak
Total542.00%29.00%51Strong
 
ENVIRONMENT AND PRODUCTSInst. ratifiedCountry scoreWorld avg. scoreCountry rank in worldStrength
Air4/5 (80.00%)80.00%86.00%59Weak
Chemicals0/10.00%78.00%152Weak
Energy0/20.00%25.00%50Weak
Flora and fauna4/10 (40.00%)43.48%68.00%177Weak
Foodstuff0/20.00%79.00%190Weak
General1/1 (100.00%)100.00%95.00%1Weak
International watercourses0/10.00%18.00%36Weak
Maritime and Law of the Sea13/26 (50.00%)53.26%46.00%82Strong
Protected geographical areas 1/1 (100.00%)100.00%27.00%1Strong
Waste1/1 (100.00%)100.00%93.00%1Weak
Total2453.13%61.00%133Weak
 
FINANCE, PAYMENTS AND INSOLVENCYInst. ratifiedCountry scoreWorld avg. scoreCountry rank in worldStrength
Assignment of receivables0/10.00%1.00%2Weak
Bankruptcy and insolvency0/10.00%21.00%41Weak
Bills of exchange and promissory notes3/4 (75.00%)50.00%8.00%1Strong
Cheques3/3 (100.00%)100.00%13.00%1Strong
Credit transfers0/10.00%0.00%1Average
International guarantees0/30.00%20.00%75Weak
Total624.39%12.00%32Strong
 
GOOD GOVERNANCE Inst. ratifiedCountry scoreWorld avg. scoreCountry rank in worldStrength
Corruption0/40.00%50.00%176Weak
Cultural Property1/4 (25.00%)31.25%54.00%142Weak
Drugs3/3 (100.00%)100.00%95.00%1Weak
Insider Trading0/10.00%4.00%9Weak
Organized crime1/2 (50.00%)62.50%80.00%112Weak
Total548.08%68.00%172Weak
 
HUMAN RIGHTS AND LABOUR STANDARDSInst. ratifiedCountry scoreWorld avg. scoreCountry rank in worldStrength
Human Rights7/7 (100.00%)100.00%96.00%1Weak
Labour Standards7/8 (87.50%)87.50%86.00%134Weak
Total1493.33%91.00%126Weak
 
INSTITUTIONAL PARTICIPATIONInst. ratifiedCountry scoreWorld avg. scoreCountry rank in worldStrength
Dispute Resolution1/1 (100.00%)100.00%39.00%1Strong
International Trade Law 5/10 (50.00%)50.00%73.00%163Weak
Trade support institutions1/6 (16.67%)16.67%51.00%146Weak
Total741.18%63.00%148Weak
 
INTELLECTUAL PROPERTYInst. ratifiedCountry scoreWorld avg. scoreCountry rank in worldStrength
Broadcasting1/1 (100.00%)100.00%47.00%1Strong
Copyright2/3 (66.67%)54.55%65.00%94Weak
Industrial designs1/2 (50.00%)62.50%31.00%37Strong
Integrated circuits0/10.00%2.00%4Weak
Neighboring Rights2/3 (66.67%)61.54%46.00%73Strong
Origin1/3 (33.33%)33.33%14.00%24Strong
Patents4/5 (80.00%)85.71%57.00%30Strong
Trademarks4/6 (66.67%)72.73%33.00%36Strong
Varieties of plants0/10.00%37.00%73Weak
Total1564.21%42.00%49Strong
 
INVESTMENTSInst. ratifiedCountry scoreWorld avg. scoreCountry rank in worldStrength
Investment disputes0/20.00%39.00%152Weak
Investment guaranty0/10.00%93.00%181Weak
Total00.00%57.00%185Weak
 
PRODUCTSInst. ratifiedCountry scoreWorld avg. scoreCountry rank in worldStrength
Marine Resources0/10.00%24.00%48Weak
Timber0/10.00%31.00%61Weak
General0/10.00%92.00%179Weak
Total00.00%53.00%180Weak
 
TRANSPORT AND TELECOMMUNICATIONSInst. ratifiedCountry scoreWorld avg. scoreCountry rank in worldStrength
Air transport3/7 (42.86%)52.38%59.00%110Weak
Aircrafts and civil aviation 6/9 (66.67%)88.00%74.00%37Strong
Maritime shipping and load lines 7/13 (53.85%)60.00%66.00%139Weak
Maritime transport3/12 (25.00%)20.83%27.00%103Weak
Multi modal transport 0/20.00%4.00%15Weak
Rail transport3/3 (100.00%)100.00%22.00%1Strong
Road transport1/4 (25.00%)27.78%31.00%70Weak
Space0/40.00%40.00%120Weak
Telecommunications1/2 (50.00%)83.33%47.00%26Strong
Total2454.05%50.00%84Weak
 
TREATIES LAWInst. ratifiedCountry scoreWorld avg. scoreCountry rank in worldStrength
General0/40.00%30.00%113Weak
Total00.00%30.00%113Weak
 
WTOInst. ratifiedCountry scoreWorld avg. scoreCountry rank in worldStrength
Plurilateral Agreements0/20.00%18.00%45Weak
WTO Agreements0/10.00%81.00%159Weak
Total00.00%47.00%159Weak
 
Strengths and Weakness
Strong
ContractsConflict of laws
Dispute resolutionJudicial cooperation
Environment and productsMaritime and Law of the Sea
Environment and productsProtected geographical areas
Finance, payments and insolvencyBills of exchange and promissory notes
Finance, payments and insolvencyCheques
Institutional ParticipationDispute Resolution
Intellectual propertyBroadcasting
Intellectual propertyIndustrial designs
Intellectual propertyNeighboring Rights
Intellectual propertyOrigin
Intellectual propertyPatents
Intellectual propertyTrademarks
Transport and telecommunicationsAircrafts and civil aviation
Transport and telecommunicationsRail transport
Transport and telecommunicationsTelecommunications
 
Average
ContractsFranchising
ContractsPrinciples, trade usages and standards
Finance, payments and insolvencyCredit transfers
 
Weak
ContractsAgency
ContractsE-commerce
ContractsLeasing/Factoring
ContractsProcurement
ContractsSale of Goods
ContractsTravel contracts
CustomsCustoms Codification
CustomsCustoms Cooperation
CustomsExemption from Duties
CustomsTemporary Admission
CustomsTransit
Dispute resolutionArbitration
Dispute resolutionRecognition of foreign judgments
Dispute resolutionState court jurisdiction
Dispute resolutionState court procedure
Dispute resolutionState immunities
Environment and productsAir
Environment and productsChemicals
Environment and productsEnergy
Environment and productsFlora and fauna
Environment and productsFoodstuff
Environment and productsGeneral
Environment and productsInternational watercourses
Environment and productsWaste
Finance, payments and insolvencyAssignment of receivables
Finance, payments and insolvencyBankruptcy and insolvency
Finance, payments and insolvencyInternational guarantees
Good Governance Corruption
Good Governance Cultural Property
Good Governance Drugs
Good Governance Insider Trading
Good Governance Organized crime
Human Rights and Labour StandardsHuman rights
Human Rights and Labour StandardsLabour Standards
Institutional ParticipationInternational Trade Law
Institutional ParticipationTrade support institutions
Intellectual propertyCopyright
Intellectual propertyIntegrated circuits
Intellectual propertyVarieties of plants
InvestmentsInvestment disputes
InvestmentsInvestment guaranty
ProductsGeneral
ProductsMarine Resources
ProductsTimber
Transport and telecommunicationsAir transport
Transport and telecommunicationsMaritime shipping and load lines
Transport and telecommunicationsMaritime transport
Transport and telecommunicationsMulti modal transport
Transport and telecommunicationsRoad transport
Transport and telecommunicationsSpace
Treaties lawGeneral
WTOPlurilateral Agreements
WTOWTO Agreements
Instruments ratifications

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