According to Hasler, Liechtenstein's participation in the agreements allowed the country to continue its more than 200-year political tradition of close transnational cooperation, while preserving its sovereignty.

“With this signature, we are sending a clear signal of integration and mutual trust,” he stated.

The Schengen Agreement abolished internal border controls within the EU in signatory countries, while the Dublin Agreement is designed to ensure that asylum seekers can only make one application for asylum in the 'Dublin area'.

Liechtenstein has been steadily integrating into the European free trade area since its accession to the European Economic Area (EEA) in 1995. The jurisdiction has now implemented 98.4% of EU directives into domestic law. Liechtenstein is also part of the Single Market, in which the same basic rules apply to all participating states.

“We must continue to develop these rules together,” Hasler continued. “We are aware that deeper integration entails additional rights but also additional duties.”

He added: “With respect to the current tax policy questions that are broadly and controversially debated in Europe, we want to play our part in finding a reasonable agreement. This will require considerable diligence in the spirit of the agreement we are signing here today. Our aim is to achieve a successful conclusion of the comprehensive tax fraud agreement that is currently under negotiation."

Hasler stated that these negotiations are already well advanced, and that the anti-fraud agreement will apply both to Liechtenstein and to the EU and all its Member States.

“Of course, we will continue to represent the legitimate interests of our citizens in these negotiations, as our European partners do,” Prime Minister Hasler stated, concluding:

“In addition to the obligations arising for Liechtenstein from the Schengen Agreement, we want today’s step to signal our continued willingness to engage in dialogue on future topics.”