Another agreement affecting the three AMS states is the taxation of savings income, which was the result of a global campaign to eliminate money laundering and the tax shield. In the case of the EU, the agreement also aimed to force “offshore financial centres” to comply with EU standards. This visit took place in a particular context, as negotiations for the conclusion of one or more association agreements between the European Union and the three Western European countries, Andorra, Monaco and San Marino are nearing completion. These are comprehensive agreements that allow these countries to access the EU`s internal market and integrate the EU acquis into their national legislation. European Commission President Jean-Claude Juncker recently reaffirmed his support for concluding negotiations on the framework agreement by the end of June. Andorra, Monaco and San Marino have all expressed their desire to deepen their relations with the EU. In the past, San Marino had considered joining the EEA and holding a referendum on the filing of an application for EU membership, which was approved by its voters; However, there were not enough votes for the result to be considered valid.  The EFTA Working Group visit to the Republic of San Marino included meetings with senior local officials such as the Minister of Foreign Affairs, Policy and Justice, Nicola Renzi, the Minister of Finance and Budget, Eva Guidi, Minister of Industry, Crafts, Trade, Labour, Cooperation and Telecommunications. Andrea Zafferani.
The EU delegation, led by THE Chairman of the EFTA Working Group, Augustin Vérnav, also met with the President and some members of the Standing Parliamentary Committee on Foreign Affairs, employers` organisations and trade unions, the Italian Ambassador to San Marino and representatives of the Central Bank of San Marino, the Financial Intelligence Agency and the San Marino Banking Association. This is mainly to reassure these countries, especially the AMS, whose fears were that they would be isolated or behind the major strategic partnerships in the east and south of the EU. The declaration was also the starting point for ongoing negotiations to strengthen the association between the EU and the AMS countries. At the end of 2014, the Council gave the Commission a mandate to negotiate “one or more association agreements” with AMS member states on behalf of the EU and its Member States. The somewhat strange formula is due to a French intervention on behalf of Monaco, because it was not yet certain that the latter, because of its particular links with France, would require a more specific agreement. Andorra, Monaco, San Marino and Vatican City use the euro through monetary agreements with the EU and have the right to issue a limited number of euro coins.