Liechtenstein Businesses Eye Georgia Election Fallout
As the US election landscape continues to shift, the impact on Liechtenstein's economic ties with the United States is being closely monitored by local businesses.
A recent CNN report stated that Mike Collins is expected to win the Republican primary for the Georgia Senate seat, while Rick Jackson secured a spot in the runoff for the governor's position. While the outcome of these elections may seem remote from Liechtenstein's daily business operations, the country's close economic and trade ties with the US make it essential to stay informed.
Liechtenstein's banking sector, in particular, has been affected by US regulations aimed at preventing money laundering and tax evasion. The country's financial institutions have been adapting to these new requirements, and a Collins-led Senate could potentially result in more stringent regulations for Liechtenstein banks operating in the US.
According to a 2022 report by the Bank for International Settlements (BIS), Liechtenstein banks had a total of $1.3 trillion in assets under management, with a significant portion invested in US securities. A shift in US regulations could impact the profitability of these investments, potentially affecting the bottom line of Liechtenstein's banking sector.
The country's export-oriented industries, such as the manufacturing and pharmaceutical sectors, also rely heavily on US trade. A change in the US tax code or trade policies could impact Liechtenstein's access to the US market, potentially affecting export volumes and revenue.
It is worth noting that Liechtenstein has a long-standing trade agreement with the US, which provides for preferential treatment for certain Liechtenstein products. A Collins-led Senate may not necessarily result in major changes to this agreement, but it could lead to increased scrutiny of Liechtenstein's trade practices.
As the US election landscape continues to unfold, Liechtenstein businesses are closely monitoring the situation to gauge any potential impact on their operations. With the country's close economic ties to the US, it is essential for local businesses to stay informed about any changes that may affect their bottom line
