The Mediterranean region has enacted regulations to protect its marine ecosystem, with the Barcelona Convention being a critical international accord for this purpose (UNEP). It covers pollution control, biodiversity preservation, and the management of hazardous substances. Managing fisheries is crucial, and the General Fisheries Commission for the Mediterranean (GFCM) plays a significant role in shaping regulations (FAO, 2023), including catch limits and protections for endangered animals. In terms of exports, the region has trade agreements, but sensitive products like sea silk require extra oversight. Trade barriers, especially non-tariff ones, pose challenges for foreign exporters. Mediterranean countries, many of which are part of the European Union, must adhere to strict technical regulations and product standards (Worldbank.org). Complying with these rules can be time-consuming and costly, making it essential for exporters to understand and navigate them when entering Mediterranean markets.
Monaco, strategically located on the Mediterranean coast, engages in international trade with various partners, including the United States, Europe, Africa, and the Middle East. Monaco’s prominent neighbor, Europe, accounts for over 80% of the region’s international textile exports (Monaco Statits, 2023). Textiles play a significant role in Monaco, with the United States importing $35.7 million of textiles from the region this year (United States Census, 2023). Monaco adheres to U.S. customs regulations, enabling the export of textiles to the United States. Regional companies seeking to export textiles to the USA must follow import procedures set by U.S. Customs and Border Protection, such as Tariff Preference Levels (U.S. Customs and Border Protection: Textile and Apparel Product, 2023). The limited barriers between the United States and Europe foster international agreements facilitated by Monaco’s stable political environment. Monacos has a stable political environment, allowing the interrelationship between them and the United States and Europe to be of high context, allowing for more of their general agreement and their words to one another’s government to be respected within their partnership.
