Relations between Türkiye and the Principality of Monaco

Consular relations between the Republic of Türkiye and the Principality of Monaco were established in 1954 and diplomatic relations were established on 16 September 2008. Turkish Embassy in Paris is accredited to Monaco. Consular relations are conducted by mutually appointed Honorary Consuls and Turkish Consulate General in Marseille.

Bilateral relations are at good level and are mainly conducted within the framework of Turkish citizens residing in Monaco, economic ties and cooperation in international organizations.

Prince of Monaco, His Serene Highness Albert II, paid a working visit to Türkiye on the occasions of the 38th International Mediterranean Science Commission (CIESM) Congress on 9-13 April 2007 and 5th World Water Forum on 16-22 March 2009. Prince Albert II. paid an official visit to Türkiye on 5-7 November 2012, upon the invitation of the 11th President of the Republic of Türkiye, H.E. Abdullah Gül. The President of the Republic of Türkiye, H.E. Recep Tayyip Erdoğan, then-Prime Minister, accompanied by Ministers of Defense and Finance, visited Monaco on 1-2 March 2006 to attend the 10th European Credit Conference organized by the Citigroup.

Since 2007, bilateral trade balance is increasing in Türkiye’s favor. Between the period 2007-2015, Türkiye’s export to Monaco increased from 2.9 million Euros to 6.9 million Euros, whereas Türkiye’s import from Monaco increased from 4.5 million Euros to 5.9 million Euros. Bilateral trade volume has increased from 7.4 million Euros in 2007 to 12.8 million Euros in 2015. Türkiye’s exports to Monaco consist mainly of rubber, plastics and other non-metallic products, textile products, metallurgic products, metals, wooden goods and paper products. Türkiye’s imports from Monaco consist mainly of transportation vehicles and electronic devices.

Based on Monaco’s 2008 population census, 68 Turkish citizens have residence permit in Monaco. As of December 2013, 17 Turkish citizens work in Monaco, 9 of whom are settled in Monaco.