AGP Executive Report

EFTA-Vietnam Trade Deal: EFTA (including Liechtenstein) has signed an “ambitious” free trade agreement with Vietnam in Reykjavik, aiming to cut customs duties and cover goods/services, rules of origin, sanitary standards, investment, IP, and public procurement. UN Diplomacy: Canada’s UN ambassador says Prime Minister Mark Carney’s “middle powers” and “variable geometry” approach is already being practiced at the UN, including issue-based coalitions. Schengen Travel Rules: The EU’s Entry/Exit System (EES) is driving fresh summer border delays, with airports and airlines urging the European Commission to act as biometric checks replace passport stamping across Schengen (including Liechtenstein). Crypto Regulation Shock: MiCA’s July 1 deadline is pushing many European crypto firms out of the market; Liechtenstein-based Sygnum Europe, however, is expanding after securing a MiCA licence. UK-EU Cultural Link: A petition to keep the UK fully in Creative Europe from 2027 has extended its deadline, reflecting ongoing post-Brexit cultural policy friction. Finance/Wealth Tech: Objectway is buying FNZ’s Swiss private banking technology business, strengthening cross-border private banking capabilities that already serve Liechtenstein-linked clients. EU Steel Protection: New EU steel quotas and higher tariffs take effect July 1, with Switzerland losing some duty-free access—an issue that also matters for Liechtenstein’s EEA trade environment.

Crypto Regulation Shock (MiCA): With the MiCA transition ending July 1, EU-wide licensing is tightening fast—only 244 of 3,000+ previously registered crypto providers reportedly secured authorization, and one estimate says up to 80% could be forced out. Liechtenstein Angle (Market Access): Sygnum says it has expanded after getting a MiCA licence for its Liechtenstein-based unit, giving direct access to EU/EEA clients. Border Policy Pressure (EES): Airports and airlines warn the EU Entry/Exit System is still causing major summer delays, as Schengen-wide biometrics replace passport stamps. Local Impact (Travel Rules): Families are being told to prepare for EES rules for children, while UK travellers face new ETIAS fees of about €20/£17 for many destinations. Trade & Industry (Steel): From July 1, the EU cuts duty-free steel quotas and raises tariffs on over-quota imports, with Switzerland affected but Liechtenstein/EEA states exempt. Healthcare & Law (NHS Training): British medical students abroad, including at a Malta campus, are challenging a UK law that prioritises training places for students in the UK.

MiCA Deadline Hits Liechtenstein-Linked Finance: Sygnum says its Liechtenstein-based unit has secured a MiCA licence, giving direct access to EU/EEA clients as the July 1 transition ends—another sign Liechtenstein is becoming a regulatory bridge for crypto firms. EU Trade & Tariffs Spill Over Into Switzerland/EEA: From July 1, the EU cuts duty-free steel quotas and raises tariffs on over-quota imports, with Switzerland (and others) facing tighter limits; the EEA—including Liechtenstein—is exempt, sharpening the cross-border impact. EU Border Tech Friction (Relevant to Liechtenstein Travelers): The EU Entry/Exit System (EES) is fully live and still triggering long queues and operational complaints, with some destinations even considering waivers for Brits—an issue for Liechtenstein residents traveling via Schengen. Crypto Compliance Pressure Across Europe: MiCA’s July 1 cutoff is expected to force many crypto providers out of the EU market, pushing firms toward faster licensing hubs like Dubai. Cross-Border Healthcare Basics: A guide explains how patients can use cross-border healthcare rights in Europe, including when prior authorisation applies and how costs are handled.

MiCA Deadline Shock: EU’s MiCA rules take full effect on July 1, ending the transition for crypto firms without authorization and driving a scramble toward the UAE; one estimate says 80% of European providers may not survive the change. EU Travel Fees & Border Tech: New ETIAS charges are set at €20 (about £17) for many UK and Scottish travellers, with exemptions for children and those over 70, while the Entry/Exit System (EES) is also causing summer airport delays and renewed calls for waivers. EU Steel Protection Tightens: From July 1, the EU cuts duty-free steel quotas and raises over-quota tariffs to 50%, with Switzerland and other partners hit—while Liechtenstein and other EEA states are exempt. Cross-Border Security Push: EU plans to keep Russian combatants out of the Schengen area are moving from concept to detail as member states weigh how to apply entry bans. Liechtenstein in the Wider Orbit: Sygnum says it has secured a MiCA licence for its Liechtenstein-based unit, giving direct EU/EEA client access as the regulatory clock runs down.

EU Steel Protection: From 1 July, the EU will cut duty-free steel import quotas by 47% to 18.3 million tonnes and raise over-quota tariffs to 50% (from 25%), with half the quota reserved for FTA partners—an approach that leaves EEA states like Liechtenstein exempt while Switzerland faces tighter limits. EU Border & Travel Rules: ETIAS fees are set at 20 euros (about £17) for eligible UK travellers heading to a long list of European destinations, including Liechtenstein, with entry rules tightening further under the EU Entry/Exit System (EES) that records biometrics for Schengen travel. MiCA Shock for Crypto: As the MiCA transition ends on 1 July, many crypto firms risk losing authorization; Sygnum Europe (Liechtenstein-based) secured a MiCA licence to expand across the EU/EEA. Cross-Border Healthcare: A practical explainer highlights how patients can use EU cross-border healthcare rights, including when prior authorization and cost rules apply. Liechtenstein in the Wider Orbit: A Wider Europe briefing flags EU plans to keep Russian combatants out of the bloc, while Liechtenstein appears in multiple EU-linked travel and policy lists.

Border & Travel Tech: The EU’s Entry/Exit System (EES) is rolling into peak summer travel, replacing passport stamping with biometric checks (fingerprints and photos) for non-EU travellers—while Liechtenstein is explicitly included in the Schengen coverage, raising the stakes for queues and airport staffing. Crypto Regulation: MiCA’s July 1 deadline is set to squeeze Europe’s unlicensed crypto firms hard, with only a small fraction of previously registered providers reportedly finishing authorization—warning of major market contraction. Health & Medicines: The EU is moving forward on new cancer and rare-disease options, including Merck’s Keytruda+Padcev approval for certain bladder cancer patients and a positive CHMP opinion for Acadia’s DAYBU (trofinetide) for Rett syndrome symptoms. Swiss Economy Watch: Switzerland’s casino market dipped 2.1% in 2025 under a new concession cycle, with notable operator closures and online shifts. Public Safety: Heatwave impacts are forcing school closures and special schedules across parts of Europe, highlighting how climate stress can quickly become a governance issue.

EU Medicines Watch: The EMA’s CHMP has issued a positive opinion for Acadia’s DAYBU (trofinetide) for Rett syndrome neurobehavioral symptoms, with a final European Commission decision expected soon—an important step for a rare-disease therapy that could become the first EU option for this indication. EU Oncology Update: The European Commission has also approved Merck/MSD’s Keytruda plus Padcev as a perioperative (neoadjuvant then adjuvant) treatment for cisplatin-ineligible resectable muscle-invasive bladder cancer, bringing a new PD-1 inhibitor + antibody-drug conjugate regimen to EU patients including Liechtenstein. Swiss Public Safety: Switzerland expanded its heatwave warning to level 4 across much of the country, with no relief expected until Monday—raising pressure on local preparedness and public services. Cross-Border Travel Rules: UK travellers heading to the Schengen area (including Liechtenstein) face Entry/Exit System biometric checks under new rules, with exemptions for some groups like children under 12. Liechtenstein-Linked Culture & Community: Liechtenstein Post representatives appeared at the Macao 2026 stamp exhibition’s opening day, highlighting the principality’s international cultural presence.

Schengen Border Tech: The EU’s Entry/Exit System is rolling out for UK travellers heading to Spain, with passport scans, photos, and (for most) four fingerprint checks—though under-12s won’t be fingerprinted; Liechtenstein is listed among the Schengen states covered. Public Health & Safety: Switzerland expanded its heatwave warning to level 4 across much of the country, with no relief expected until Monday—raising pressure on local preparedness. EU Security Cooperation: The European Commission proposed stronger mandates for Europol and Eurojust, plus updates to the European Investigation Order and data rules, aiming to speed cross-border serious-crime prosecutions. Liechtenstein in the Wider Policy Orbit: A Swiss/UK-linked debate on “foreign residents” taxes is heating up in Switzerland, including a proposed security fee for foreigners that could clash with free-movement commitments affecting EU/EFTA nationals. Healthcare Approvals: The EU moved forward on cancer care, approving Keytruda+Padcev for cisplatin-ineligible muscle-invasive bladder cancer and Trodelvy for first-line metastatic triple-negative breast cancer. Water Access Map: A new global map highlights where safely managed drinking water is still out of reach, with over 2 billion people lacking access.

Schengen Border Rules: UK travellers entering the Schengen area (including Liechtenstein) face the Entry/Exit System with passport photo capture and, for most, four fingerprint scans, while children under 12 are exempt from fingerprinting (still photographed). Heatwave Watch: Switzerland expanded its heatwave danger level to 4 across much of the country, with no relief expected until Monday—relevant for planning and public services. EU Health Approvals: The European Commission approved Merck/MSD’s Keytruda+Padcev perioperative regimen for cisplatin-ineligible resectable muscle-invasive bladder cancer, and also cleared Trodelvy for first-line metastatic triple-negative breast cancer. Liechtenstein in International Events: Liechtenstein Post featured in Macau’s “Macao 2026” stamp exhibition, with a presentation by its philately head. EU Security Push: The European Commission proposed stronger Europol/Eurojust mandates and updates to cross-border investigation tools to speed prosecutions against serious, digital, cross-border crime. Identity & Signatures: Shufti and Evrotrust announced a single onboarding flow combining identity verification with Qualified Electronic Signatures across EU states.

Schengen Border Rules: UK travellers heading to the Schengen area (including Liechtenstein) face the Entry/Exit System with passport checks, photos, and four fingerprint scans on arrival, with key exemptions such as children under 12 not being fingerprinted. Liechtenstein-Focused Finance: Bitcoin Suisse won a regulated route in Liechtenstein via a MiCAR licence, positioning it to expand compliant crypto services across selected EEA markets. Crypto Infrastructure: OpenPayd also secured MiCA authorization, enabling regulated fiat-to-stablecoin conversions, custody, and stablecoin transfers across the EEA ahead of the July 1 deadline. EU Security Cooperation: The European Commission proposed stronger mandates for Europol and Eurojust plus updates to the European Investigation Order and data rules to speed cross-border prosecutions. Health & Regulation (EU): The EU moved forward on new cancer therapies, including EC approval for Trodelvy in first-line metastatic triple-negative breast cancer and Keytruda+Padcev for cisplatin-ineligible muscle-invasive bladder cancer. Public Safety (Switzerland): Switzerland expanded a level-4 heatwave warning across large areas, raising concerns for vulnerable groups and public services.

Schengen Border Rules: UK holidaymakers entering the Schengen area face new biometric checks under the Entry/Exit System, including passport scanning, photo capture, and four fingerprint scans for most travellers; children under 12 won’t be fingerprinted, but will still be photographed and recorded. Liechtenstein in the Spotlight: The Schengen list explicitly includes Liechtenstein, meaning the new process directly affects travel to and through the country. Swiss Heatwave Response: Switzerland expanded its heatwave warning to level 4 across much of the country, with no relief expected until Monday—an issue that can quickly turn into a government and public-safety test. Foreign Residents Debate (Switzerland): Swiss politics is seeing renewed pressure around “foreigner taxes” and security-related fees for non-Swiss residents, with free-movement concerns raised for EU/EFTA nationals. Crypto Regulation (Liechtenstein): Bitcoin Suisse secured a MiCAR Crypto Asset Service Provider licence from Liechtenstein’s Financial Market Authority, giving it a regulated route to serve selected EEA markets.

Liechtenstein in EU spotlight (health): The European Medicines Agency’s CHMP backed DAYBU® (trofinetide) for Rett syndrome neurobehavioral symptoms, with an EU marketing authorization now awaiting the European Commission. EU cancer approvals (health): The EC also approved Trodelvy® for first-line metastatic triple-negative breast cancer in patients not suitable for PD-(l)1 inhibitors, and cleared Keytruda + Padcev for cisplatin-ineligible muscle-invasive bladder cancer, including perioperative use and continued adjuvant treatment. Liechtenstein in cross-border media (culture): HBO Max acquired Stan’s “The Killings at Parrish Station” for multiple markets including Switzerland and Liechtenstein, and also picked up “Tip Toe” across Europe. Liechtenstein in finance (crypto regulation): Bitcoin Suisse secured a MiCAR Crypto-Asset Service Provider licence in Liechtenstein, giving it a regulated base to expand across selected EEA markets; OpenPayd also announced MiCA authorization for EEA-wide crypto services. Local relevance via Swiss policy context: Switzerland raised heatwave warnings to level 4 across large areas, affecting daily life and planning.

Liechtenstein in the spotlight abroad: Swiss nationals living overseas competed at the 2026 Federal Shooting Festival in Chur, with Liechtenstein flags among those on display—an example of how cross-border ties and traditions keep political identity “alive” beyond the borders. Travel rules that hit the region: UK authorities warned holidaymakers about illegal meat and dairy items when returning from the EU, with fines up to £5,000 for undeclared restricted goods. Swiss public safety: Switzerland expanded its heatwave warning to level 4 across much of the country, with no relief expected until Monday—raising pressure on local planning and services. Crypto regulation with Liechtenstein links: Bitcoin Suisse secured a MiCAR Crypto Asset Service Provider licence from Liechtenstein’s FMA, positioning the firm to expand regulated services across selected EEA markets. EU policy ripple effects: The EU proposed stronger mandates for Europol and Eurojust to tackle cross-border, digital crime—relevant for small states watching how enforcement cooperation evolves.

Liechtenstein in the crypto spotlight: Bitcoin Suisse says Liechtenstein’s Financial Market Authority has granted it a MiCAR Crypto Asset Service Provider licence, giving the firm a regulated base to expand crypto services across selected EEA markets. EU health approvals with Liechtenstein reach: The European Commission approved Gilead’s Trodelvy as first-line monotherapy for metastatic triple-negative breast cancer (TNBC) for patients not eligible for PD-(L)1 inhibitors, and also backed MSD’s Keytruda plus Padcev for cisplatin-ineligible muscle-invasive bladder cancer—both explicitly covering Liechtenstein alongside EU states, Iceland and Norway. Cross-border security and justice: The European Commission proposed new measures to strengthen Europol and Eurojust mandates, revise the European Investigation Order, and adjust data rules to speed up cross-border prosecutions of serious crime and terrorism. Swiss policy pressure on foreigners: A Swiss parliamentary debate highlights proposals for “security” and “infrastructure” style fees targeting foreign residents, raising questions about compatibility with free-movement rules that include Liechtenstein-linked EFTA citizens. Climate and public services: Heatwave warnings expanded across Switzerland to level 4, while schools across Europe struggled to keep classrooms safe during extreme temperatures.

EU Health Policy: The European Commission approved MSD’s Keytruda (pembrolizumab) plus Padcev (enfortumab vedotin) for adults with resectable muscle-invasive bladder cancer who can’t receive cisplatin, with the first PD-1 inhibitor + antibody-drug conjugate option for this group across EU states plus Iceland, Liechtenstein and Norway. EU Justice & Security: Brussels proposed stronger EU-wide mandates for Europol and Eurojust, updates to the European Investigation Order, and changes to data rules for Union bodies to speed cross-border serious-crime and terrorism cases. Liechtenstein in the Regulatory Spotlight: Bitcoin Suisse secured a MiCAR Crypto Asset Service Provider licence in Liechtenstein, giving it a regulated route to expand services across selected EEA markets. Cross-Border Migration Debate (Switzerland): A Swiss parliamentary push would add “security” and “infrastructure” style fees for foreign residents, raising free-movement concerns for EU/EFTA nationals including Liechtenstein citizens. Public Safety: Switzerland raised heatwave warnings to level 4 across large areas, including parts of the Rhine Valley and Ticino.

Liechtenstein in the EU/EEA spotlight: Bitcoin Suisse secured a MiCAR Crypto Asset Service Provider licence from Liechtenstein’s FMA, giving the firm a regulated base to expand crypto services across selected EEA markets. EU legal & compliance watch: The European Commission proposed stronger Europol/Eurojust mandates and updates to the European Investigation Order, aiming to speed cross-border prosecutions and reduce administrative friction. Cross-border digital rules: A new EU Product Liability Directive must be transposed by Dec 9, 2026, with member-state drafts showing diverging interpretations and potentially higher strict-liability exposure for digital supply chains. Health policy with Liechtenstein reach: The EU approved KEYTRUDA plus PADCEV for cisplatin-ineligible resectable muscle-invasive bladder cancer, and Trodelvy for first-line metastatic triple-negative breast cancer—both explicitly covering Liechtenstein. Regional governance context: Switzerland expanded a heatwave warning to level 4 across large areas, with no relief expected until Monday. Security & foreign policy: Norway and India hailed a “green strategic partnership,” while the UN Security Council warned of atrocity risks in Sudan amid escalating RSF drone strikes.