As part of the ongoing commitment for Jersey to sign tax information exchange agreements with all 27 EU member states, Senator Bailhache announced that on 13 March 2012 the 14th agreement was signed with Italy.

The agreement was signed at the Italian Embassy in London by Assistant Chief Minister with responsibility for external affairs, Senator Sir Philip Bailhache, and His Excellency Alain Giorgio Maria Economides, Italy's Ambassador to the UK.

Senator Bailhache said: "I am delighted to have the opportunity to sign this TIEA with Italy, which is an EU, OECD and G20 member. We attach great importance to maintaining a good relationship with all the EU Member States and we see this agreement as a significant further strengthening of that relationship. We have been pressing the Italian authorities to sign the TIEA for some time and we look forward to working closely with them on the implementation of the agreement. We hope to extend this relationship to other matters of mutual interest and to this end I have extended an invitation to the Ambassador to visit Jersey at an early date."

Further negotiations for another 11 agreements are in the advanced stage. The TIEA with Italy, and those others in progress, are welcomed by Jersey industry as they pave the way for stronger commercial ties with all countries within the EU and also demonstrate Jersey's continued commitment to international standards.

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