Bilateral cooperation USA The relations between Liechtenstein and the United States of America are based on shared values such as commitment to democracy, the protection and respect of human rights, the rule of law, tolerance, and the free flow of ideas. The United States plays a globally leading role in areas important to Liechtenstein – especially including questions concerning the financial centre. Of relevance in this regard is the great importance placed by the United States on the fight against terrorism since 11 September 2001. For this purpose, the United States depends on close relations with its partner countries. Apart from the trade relations with Switzerland and Germany, Liechtenstein’s strongest trade relations are with the United States. For these reasons, bilateral relations with the United States are especially important. Until the embassy in Washington was established, bilateral relations were managed directly between the Liechtenstein authorities and the American consulate general in Zurich. In 1997, the first US ambassador residing in Bern was accredited as a non-resident ambassador to Liechtenstein. Liechtenstein’s ambassador to the United States was first accredited as a non-resident ambassador in 2000 and then as a resident ambassador in Washington in 2002. Over the past ten years, relations with the United States have been deepened and expanded. This has occurred through agreements and stronger cooperation in relation to the financial centre and the fight against terrorism, intensified reciprocal visits at various levels, the estab­ lishment of honorary consulates, and the creation of a network in Washington and beyond. There continues to be a great need to portray Liechtenstein in the United States in a context that goes beyond the financial centre, drawing attention to the importance of the industrial sector and Liechtenstein’s status as an attractive business location. In light of the size of the United States and its limited familiarity with Liechtenstein, the country has a great opportunity to shape its own image from scratch in many parts of the United States, requiring ongoing and active public relations work. The four honorary consulates make a substantial contribution to Liechtenstein’s visibility in the respective American states. In this regard, they constitute a costefficient and effective form of support. With regard to cooperation in tax matters, the United States continues to be one of the most important and influential partners for Liechtenstein. In 2008, a tax information exchange agree­ ment (TIEA) with the United States was concluded. The associated TIEA Act was supplemented in March 2012 to include the possibility of group requests, in order to provide a sustainable legal framework for dealing with information concerning American clients. A bilateral dis­ clo­sure program has so far not met with concrete interest on the part of the US. Implementation of FATCA currently represents an enormous challenge. This law with extraterritorial effect requires financial institutions throughout the world to ensure full transparency in regard to their American clients. In the field of mutual legal assistance, the individual cases arising in the context of the Mutual Legal Assistance Treaty, in force since 1 August 2003, have been processed satisfactorily. Efforts to conclude a double taxation agreement with the United States continue. | 33