Bilateral relations
Nepal and Monaco established diplomatic relations on 15 May 2012. The Embassy of Nepal in France is concurrently accredited to Monaco. The Government of Nepal has appointed Honorary Consul in Monaco. Nepal and Monaco enjoy friendly bilateral relations. Except for occasional contacts there is not much contact and exchanges between the two countries. As small countries both have similar aspirations and sentiments that bind them closer in international forums. Monaco’s policy of neutrality between two big neighbours and Nepal’s quest for peace and freedom has some elements of commonalities.
Exchange of Visit
Except for few contacts between the royalties of both countries in the past when Nepal was still a monarchy, there are few worth mentioning exchanges of visits between the two countries.
Among such visits was the visit of Prince Albert and Princess Charlene to Nepal on 24 October 2011 during which they inaugurated school buildings built with the support of Monaco.
Cooperation
In the aftermath of 2015 earthquake, Monaco expressed solidarity and support to Nepal, and provided emergency medical supplies through International Federation of Red Cross (IFRC), and NGOs.
Trade and investment
The trade relations of Nepal with Monaco, which stands at a modest level at present, is mostly in Nepal’s favour. The trade between Nepal and Monaco is as follows:
Value in US $
| Year | Export | Import | Balance |
| 2015 | 38,064 | 477 | 37,587 |
| 2016 | 31,573 | 5,934 | 25,639 |
| 2017 | 10,930 | 14,448 | -3,518 |
| 2018 | 39,673 | 11,321 | 28,352 |
| 2019 | 42,801 | 6,552 | 36,249 |
Source: TEPC, Nepal
Nepal imports essential oils and resinoids, electrical machinery and equipment and parts from Monaco whereas exports mainly carpets and other textile floor coverings and articles of apparel and clothing accessories to Monaco.
There is no record of FDI from Monaco incoming into Nepal as yet. However, there is potential to expand cooperation in the areas of investment, technology transfer and tourism.
Europe and the Americas Division
Ministry of Foreign Affairs
August 2020