Monaco
Country overview
Monaco is located on the northern coast of the Mediterranean Sea and surrounded on land by France. It is the second smallest independent state in the world, occupying approximately 2 square kilometres and with a population in 2019 (est.) of 38,100. It is the world's most densely populated country with approximately 18,750 inhabitants per square kilometre. Only about one-fifth of the population claims Monégasque descent; other ethnic groups occupying the country include those of French, Italian, and British origin. The official language is French, but Monégasque, Italian, and English are also widely used.
Monaco was founded in 1215 as a colony of Genoa. It has historically been ruled by the House of Grimaldi, except for a period between 1793-1814 when it was under French control. Monaco's sovereignty was recognised by the Franco-Monégasque Treaty of 1861, and later confirmed by the Treaty of Versailles (1919). Under these treaties, France would defend the independence and sovereignty of Monaco and, in return, Monaco would not conduct a foreign policy at odds with that of France.
In 2002, a new treaty was signed between France and Monaco to bring the 1918 agreement into line with modern realities. The treaty established the principal of reciprocity in diplomatic relations and contained assurances that each of the two States would respect the fundamental interests of the other.
Bilateral relationship
Australia established diplomatic relations with Monaco in 2007, with accreditation through the Australian Embassy in France. In recognition of the growing relationship between Australia and Monaco, a bilateral Tax Information Exchange Agreement was signed in 2010. We also have bilateral treaties covering mutual legal assistance and extradition.
Our bilateral relationship is based on common values, support for arts and culture, protection of the environment and sustainable development. Australian institutes have close and active relationships with Monaco's Oceanographic Institute and the Prince Albert Foundation.
Texts of bilateral agreements are available at the Australian Treaties Database.
Political overview
Monaco has been governed as a constitutional monarchy since 1911. Its head of state is His Serene Highness Prince Albert II, the 32nd hereditary ruler. He formally assumed the throne in 2005 after his father, Prince Rainier III, passed away.
The government of Monaco is composed of a Minister of State who represents the Prince. The current Minister of State is H. E. Mr Pierre Dartout, who has held this position since 2020. He is advised by five Councillor-Ministers who head the various ministries of the Administration. All are appointed by the Prince and directly accountable to him for the work they perform.
Legislative power is exercised jointly by the Prince and the unicameral National Council. The National Council has 24 members who are elected for five-year terms. The 16 candidates who receive the most votes are directly elected, with the remaining 8 seats filled through list-based proportional representation.
Foreign policy
Monaco became a member of the United Nations in 1993. Though Monaco is not a member of the European Union (EU), it participates in the EU market system through its customs union with France. Monaco is also a member of the Eurozone, the Council of Europe, the Organisation for Security and Cooperation in Europe and the Organisation Internationale de la Francophonie (OIF).
Monaco's international priorities include the promotion of sustainable development, protection of the environment and the protection of human rights.
Fast facts
Monégasque visitors to Australia (2022)
530
Australian resident returns from Monaco (2022)
360
Trade and investment
Economic development in Monaco was spurred in the late 19th century with a railroad linkup to France. In the modern day, Monaco's mild climate, coastal Mediterranean scenery and world-famous Monte Carlo casino have made tourism a primary source of income.
Australia's economic relations with Monaco are minimal and official statistics are not recorded.
Contact
Australia's diplomatic representation in Monaco is from the Australian Embassy in Paris.
4 rue Jean Rey, 75724 Paris, France
Ph: +33 1 40 59 33 00
Email: info.paris@dfat.gov.au