The head of government defends the transparency of the agreement
The Head of Government of Andorra, Xavier Espot, has defended the association agreement with the European Union before the General Council. In his speech, Espot emphasized the transparency of the agreement and denied the existence of any hidden letter in the text of the agreement.
Economic diversification and protection of the banking sector
Espot has stressed that the partnership agreement is key to achieving Andorra’s economic diversification and has warned about the importance of protecting the national banking sector. He emphasized that banking entities will need access to liquidity mechanisms to compete on equal terms with other countries. In the event of not having access to these mechanisms, the banking entities could relocate and Andorra would lose an essential element of its sovereignty.
Benefits of the partnership agreement
Espot has emphasized that the partnership agreement will allow Andorra to diversify its economy and create new areas of business. He pointed out that the current economic boom will not last forever and that it is important to prepare for times of crisis. The association agreement will also make it possible to protect already existing sectors, such as banking, and maintain a properly Andorran financial sector.
Other points of the agreement
In his speech, Espot mentioned other points of the association agreement. He emphasized that there will be no changes in taxation and that the IGI will remain at a competitive rate of 4.5%. He also talked about the negotiated solution to maintain the current situation of FEDA and the agreement on the telecommunications market. In this regard, he pointed out that the progressive elimination of roaming will be an advantage for citizens and will help improve Andorra’s reputation as a tourist destination.
Communication and referendum
Espot has highlighted the importance of communicating the advantages of the agreement to the public and has announced that intensive work will be done to expose all the necessary information. He has also advocated the continuation of talks in schools to inform young people about the agreement. Espot has stressed that the referendum to approve the association agreement will be held in the first months of 2025 and has urged citizens to participate in this unique and unrepeatable opportunity.