Challenges and opportunities Thanks to discrimination-free access to the EU Single Market, the Customs Treaty with Switzerland, the EFTA free trade agreements and Liechtenstein’s membership in the WTO, the framework conditions of Liechtenstein’s business location for international trade are now very good, comparatively speaking. The high dependence on foreign markets and the international ties of the Liechtenstein economy will continue to demand the best possible framework conditions. Foreign policy must continue to attach great importance to foreign economic policy and advocate on behalf of first-class framework conditions for the economy. Specific opportunities arise from Liechtenstein’s identity as a small state. Naturally, the personnel and financial resources of a small state are limited. The limited nature of these resources demands a foreign policy that is clearly focused in terms of content. To a greater extent than in other states, the country’s essential foreign policy interests must be defined. The necessity of focusing on clearly defined priorities makes it possible to engage in foreign policy that is effective, purposeful, and closely guided by interests. At the same time, Liechtenstein’s small size makes rapid and flexible action possible. The short channels within the public administration and the closeness to decision-makers and the private sector should be taken advantage of especially in the context of negotiations. The unbureaucratic structures permit rapid, situational adjustments to negotiating tactics or positions where needed. This allows Liechtenstein to take the best possible advantage of opportunities arising during negotiation processes. Liechtenstein has repeatedly demonstrated its ability to make a valuable contribution to the international community and in that way create added value for the international discussion. Its relative «powerlessness» has frequently allowed Liechtenstein to advocate credibly and actively on behalf of internationally important issues. This has contributed substantially to Liechtenstein’s foreign policy profile. Also in the future, Liechtenstein aims to be perceived as a reliable and committed partner showing solidarity. | 9