Priorities of foreign policy 20 | The transformation of the financial centre has become irreversible in light of the Liechtenstein Declaration of 12 March 2009, in which Liechtenstein recognised the OECD standard on exchange of information in tax matters (article 26 of the OECD Model Tax Convention). At that time, Liechtenstein also announced its willingness to conclude bilateral agreements going beyond the OECD standard in order to ensure the fulfilment of past, present and future tax obligations. On the basis of the new financial centre strategy, meanwhile 21 tax information exchange agreements (TIEAs) and six double taxation agreements have been concluded, including with the United States, Japan, Germany and the United Kingdom. These agreements create a reliable legal framework for tax cooperation between Liechtenstein and the respective treaty partner. The conclusion of agreements aims to prevent double taxation of Liechtenstein companies to the extent possible and to counter (potential) tax discrimination against Liechtenstein companies. Treaty policy understood in this way is a component of an active business location policy. Special importance is attached to the agreement with the United Kingdom on comprehensive cooperation in tax matters. For the period from 2010 to 2015, this agreement provides special conditions for the self-declaration of clients of the Liechtenstein financial centre who Free trade are taxable in the United Kingdom (Liechtenstein Disclosure Facility, LDF). In return, Liechtenstein commits itself to ensuring the tax compliance of British clients of the financial centre. The LDF has meanwhile been extended by one year to 2016. In June 2012, a double taxation agreement with the United Kingdom was also signed. agreements create a predictable, preferential access The ratification of a double taxation agreement with Germany in November 2012 represented a milestone for the Liechtenstein business location. Germany is – alongside to foreign markets. Switzerland and the United States – the most significant import and export partner of Liechtenstein. The double taxation agreement creates legal and investment security for companies engaged in cross-border activities. The Anti-Fraud Agreement already negotiated with the European Union (EU) in 2008 and later supplemented continues to be contested in the Council of the European Union. So far, the EU has been unable to adopt a resolution to sign the agreement. In 2011, Liechtenstein underwent Phase 1 of the assessment process of the Global Forum on Transparency and Exchange of Information for Tax Purposes. In Phase 1, the legal foundations of the country were reviewed. In Phase 2, the effectiveness of information exchange in practice will be reviewed. Liechtenstein has now been admitted to Phase 2. Implementation of the financial centre strategy – and the associated effort to create stable and attractive framework conditions for financial centre players – continues to be a great challenge. Foreign policy can make an active contribution to the transformation of the financial centre by making its contacts and networks available and by supporting negotiations. In the field of foreign economic policy, which is coordinated by foreign policy, the goal – in consultation with the private sector – is to advance the policy of market opening and improved market access in a targeted manner. This strengthens Liechtenstein as a location, ultimately having a positive impact on growth and employment.