Challenges and opportunities 8 | Conveying a realistic and diversified image of Liechtenstein certainly represents an ongoing challenge. This is true both of Liechtenstein’s image in the perception of other states and of its image as perceived by the international public. Insufficient attention has been paid so far to the strengths and positive impact of Liechtenstein, such as its extraordinarily great commitment to international solidarity and the progressive development of international law, the extensive diversification and innovation of the Liechtenstein business location, and its cultural diversity. These assets must be emphasised even more strongly, especially in the context of Liechtenstein’s foreign policy activities. Foreign policy can and should contribute substantially to reputation management. Conveying a realistic A significant development for foreign policy lies in the current transformation of the international political and economic order. The increasing reality of a global shift in power is characterised by the growing influence of emerging countries and the rela- and diversified image tive decline of influence of the «Western World». Associated with this is a debate on of Liechtenstein values and, in the medium term, perhaps a certain change in values as well. The global certainly represents shift in power must be taken into account when identifying strategic partner states. It must of course be considered in this regard that the traditional partner states of Liech- an ongoing challenge. tenstein continue to be of crucial importance to our country. This is especially true of the bilateral relations with the neighbouring states of Switzerland and Austria. Stronger cultivation of bilateral contacts with selected emerging countries and the establishment of networks in these countries pose great challenges for Liechtenstein’s foreign policy system. Firstly, Liechtenstein has no local presence or established networks in these countries, which makes ongoing cultivation of bilateral contacts more difficult; secondly, enhanced culti­vation of contacts entails considerably greater effort, which must be managed with the country’s limited personnel and financial resources. The changes in the global power structure and the looming «loss of importance» of Europe should not mask the fact that Liechtenstein’s fate continues to be closely linked with the fate of Europe. Liechtenstein is directly affected by the debt crisis in the EU and the Eurozone in particular. The high exchange rate of the Swiss franc due to the crisis is a burden on Liechtenstein’s heavily export-oriented economy. This changes nothing about the fundamental importance of the EU Single Market for Liechtenstein’s export economy. Special attention must therefore be paid to securing ongoing unhindered and discrimination-free access to the EU Single Market. At the same time, the impact of the institutional developments in the EU on Liechtenstein and the resulting strategic options for Liechtenstein must continuously be evaluated. In this regard, it must be ensured that the level of integration achieved so far is at least maintained.