Monaco

Abstract

Wikipedia Country Information

Monaco (; 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 services 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
CONTRACTS Inst. ratified Country score World avg. score Country rank in world Strength
Agency 0/2 0.00% 2.00% 8 Weak
Conflict of laws 1/7 (14.29%) 14.29% 3.00% 9 Strong
E-commerce 0/3 0.00% 18.00% 70 Weak
Franchising 0/1 0.00% 0.00% 1 Average
Leasing/Factoring 0/2 0.00% 5.00% 13 Weak
Principles, trade usages and standards 0/2 0.00% 0.00% 1 Average
Procurement 0/4 0.00% 3.00% 31 Weak
Sale of Goods 0/5 0.00% 25.00% 89 Weak
Travel contracts 0/1 0.00% 3.00% 7 Weak
Total 1 1.45% 9.00% 138 Weak
 
CUSTOMS Inst. ratified Country score World avg. score Country rank in world Strength
Customs Codification 0/3 0.00% 78.00% 153 Weak
Customs Cooperation 0/6 0.00% 26.00% 117 Weak
Exemption from Duties 1/9 (11.11%) 11.11% 30.00% 109 Weak
Temporary Admission 0/11 0.00% 28.00% 126 Weak
Transit 0/4 0.00% 28.00% 98 Weak
Total 1 3.26% 31.00% 168 Weak
 
DISPUTE RESOLUTION Inst. ratified Country score World avg. score Country rank in world Strength
Arbitration 2/6 (33.33%) 30.00% 32.00% 84 Weak
Judicial cooperation 3/5 (60.00%) 78.95% 36.00% 42 Strong
Recognition of foreign judgments 0/2 0.00% 2.00% 6 Weak
State court jurisdiction 0/4 0.00% 14.00% 29 Weak
State court procedure 0/1 0.00% 6.00% 12 Weak
State immunities 0/1 0.00% 11.00% 22 Weak
Total 5 42.00% 29.00% 51 Strong
 
ENVIRONMENT AND PRODUCTS Inst. ratified Country score World avg. score Country rank in world Strength
Air 4/5 (80.00%) 80.00% 86.00% 59 Weak
Chemicals 0/1 0.00% 78.00% 152 Weak
Energy 0/2 0.00% 25.00% 50 Weak
Flora and fauna 4/10 (40.00%) 43.48% 68.00% 177 Weak
Foodstuff 0/2 0.00% 79.00% 190 Weak
General 1/1 (100.00%) 100.00% 95.00% 1 Weak
International watercourses 0/1 0.00% 18.00% 36 Weak
Maritime and Law of the Sea 13/26 (50.00%) 53.26% 46.00% 82 Strong
Protected geographical areas 1/1 (100.00%) 100.00% 27.00% 1 Strong
Waste 1/1 (100.00%) 100.00% 93.00% 1 Weak
Total 24 53.13% 61.00% 133 Weak
 
FINANCE, PAYMENTS AND INSOLVENCY Inst. ratified Country score World avg. score Country rank in world Strength
Assignment of receivables 0/1 0.00% 1.00% 2 Weak
Bankruptcy and insolvency 0/1 0.00% 21.00% 41 Weak
Bills of exchange and promissory notes 3/4 (75.00%) 50.00% 8.00% 1 Strong
Cheques 3/3 (100.00%) 100.00% 13.00% 1 Strong
Credit transfers 0/1 0.00% 0.00% 1 Average
International guarantees 0/3 0.00% 20.00% 75 Weak
Total 6 24.39% 12.00% 32 Strong
 
GOOD GOVERNANCE Inst. ratified Country score World avg. score Country rank in world Strength
Corruption 0/4 0.00% 50.00% 176 Weak
Cultural Property 1/4 (25.00%) 31.25% 54.00% 142 Weak
Drugs 3/3 (100.00%) 100.00% 95.00% 1 Weak
Insider Trading 0/1 0.00% 4.00% 9 Weak
Organized crime 1/2 (50.00%) 62.50% 80.00% 112 Weak
Total 5 48.08% 68.00% 172 Weak
 
HUMAN RIGHTS AND LABOUR STANDARDS Inst. ratified Country score World avg. score Country rank in world Strength
Human Rights 7/7 (100.00%) 100.00% 96.00% 1 Weak
Labour Standards 7/8 (87.50%) 87.50% 86.00% 134 Weak
Total 14 93.33% 91.00% 126 Weak
 
INSTITUTIONAL PARTICIPATION Inst. ratified Country score World avg. score Country rank in world Strength
Dispute Resolution 1/1 (100.00%) 100.00% 39.00% 1 Strong
International Trade Law 5/10 (50.00%) 50.00% 73.00% 163 Weak
Trade support institutions 1/6 (16.67%) 16.67% 51.00% 146 Weak
Total 7 41.18% 63.00% 148 Weak
 
INTELLECTUAL PROPERTY Inst. ratified Country score World avg. score Country rank in world Strength
Broadcasting 1/1 (100.00%) 100.00% 47.00% 1 Strong
Copyright 2/3 (66.67%) 54.55% 65.00% 94 Weak
Industrial designs 1/2 (50.00%) 62.50% 31.00% 37 Strong
Integrated circuits 0/1 0.00% 2.00% 4 Weak
Neighboring Rights 2/3 (66.67%) 61.54% 46.00% 73 Strong
Origin 1/3 (33.33%) 33.33% 14.00% 24 Strong
Patents 4/5 (80.00%) 85.71% 57.00% 30 Strong
Trademarks 4/6 (66.67%) 72.73% 33.00% 36 Strong
Varieties of plants 0/1 0.00% 37.00% 73 Weak
Total 15 64.21% 42.00% 49 Strong
 
INVESTMENTS Inst. ratified Country score World avg. score Country rank in world Strength
Investment disputes 0/2 0.00% 39.00% 152 Weak
Investment guaranty 0/1 0.00% 93.00% 181 Weak
Total 0 0.00% 57.00% 185 Weak
 
PRODUCTS Inst. ratified Country score World avg. score Country rank in world Strength
Marine Resources 0/1 0.00% 24.00% 48 Weak
Timber 0/1 0.00% 31.00% 61 Weak
General 0/1 0.00% 92.00% 179 Weak
Total 0 0.00% 53.00% 180 Weak
 
TRANSPORT AND TELECOMMUNICATIONS Inst. ratified Country score World avg. score Country rank in world Strength
Air transport 3/7 (42.86%) 52.38% 59.00% 110 Weak
Aircrafts and civil aviation 6/9 (66.67%) 88.00% 74.00% 37 Strong
Maritime shipping and load lines 7/13 (53.85%) 60.00% 66.00% 139 Weak
Maritime transport 3/12 (25.00%) 20.83% 27.00% 103 Weak
Multi modal transport 0/2 0.00% 4.00% 15 Weak
Rail transport 3/3 (100.00%) 100.00% 22.00% 1 Strong
Road transport 1/4 (25.00%) 27.78% 31.00% 70 Weak
Space 0/4 0.00% 40.00% 120 Weak
Telecommunications 1/2 (50.00%) 83.33% 47.00% 26 Strong
Total 24 54.05% 50.00% 84 Weak
 
TREATIES LAW Inst. ratified Country score World avg. score Country rank in world Strength
General 0/4 0.00% 30.00% 113 Weak
Total 0 0.00% 30.00% 113 Weak
 
WTO Inst. ratified Country score World avg. score Country rank in world Strength
Plurilateral Agreements 0/2 0.00% 18.00% 45 Weak
WTO Agreements 0/1 0.00% 81.00% 159 Weak
Total 0 0.00% 47.00% 159 Weak
 
Strengths and Weakness
Strong
Contracts Conflict of laws
Dispute resolution Judicial cooperation
Environment and products Maritime and Law of the Sea
Environment and products Protected geographical areas
Finance, payments and insolvency Bills of exchange and promissory notes
Finance, payments and insolvency Cheques
Institutional Participation Dispute Resolution
Intellectual property Broadcasting
Intellectual property Industrial designs
Intellectual property Neighboring Rights
Intellectual property Origin
Intellectual property Patents
Intellectual property Trademarks
Transport and telecommunications Aircrafts and civil aviation
Transport and telecommunications Rail transport
Transport and telecommunications Telecommunications
 
Average
Contracts Franchising
Contracts Principles, trade usages and standards
Finance, payments and insolvency Credit transfers
 
Weak
Contracts Agency
Contracts E-commerce
Contracts Leasing/Factoring
Contracts Procurement
Contracts Sale of Goods
Contracts Travel contracts
Customs Customs Codification
Customs Customs Cooperation
Customs Exemption from Duties
Customs Temporary Admission
Customs Transit
Dispute resolution Arbitration
Dispute resolution Recognition of foreign judgments
Dispute resolution State court jurisdiction
Dispute resolution State court procedure
Dispute resolution State immunities
Environment and products Air
Environment and products Chemicals
Environment and products Energy
Environment and products Flora and fauna
Environment and products Foodstuff
Environment and products General
Environment and products International watercourses
Environment and products Waste
Finance, payments and insolvency Assignment of receivables
Finance, payments and insolvency Bankruptcy and insolvency
Finance, payments and insolvency International guarantees
Good Governance Corruption
Good Governance Cultural Property
Good Governance Drugs
Good Governance Insider Trading
Good Governance Organized crime
Human Rights and Labour Standards Human rights
Human Rights and Labour Standards Labour Standards
Institutional Participation International Trade Law
Institutional Participation Trade support institutions
Intellectual property Copyright
Intellectual property Integrated circuits
Intellectual property Varieties of plants
Investments Investment disputes
Investments Investment guaranty
Products General
Products Marine Resources
Products Timber
Transport and telecommunications Air transport
Transport and telecommunications Maritime shipping and load lines
Transport and telecommunications Maritime transport
Transport and telecommunications Multi modal transport
Transport and telecommunications Road transport
Transport and telecommunications Space
Treaties law General
WTO Plurilateral Agreements
WTO WTO Agreements
Instruments ratifications

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