Government representatives, business leaders and officials from free and special economic zone nations around the world have come together for the first Su-MEET conference in Monaco.
Held in the Crystal Room at the Fairmont Hotel, the two day event organised by the World Federation of Free and Special Economic Zones (FEMOZA) with the full cooperation of the UN Industrial Development Organisation (UNIDO) met from 13th to 15th November and brought together developers from Special Economic Zones (SEZ) and investors for meetings, networking opportunities and round table discussions under the theme ‘Past, Present & Future of Free and Special Economic Zones’.
The Su-MEET summit focused heavily on the One Belt One Road policy initiated by Chinese President Xi Jinping, which encourages the use of green working environments, digital transition policies and flexible labour standards that accommodate a simplified transfer of technology.
Talks also highlighted successful cities, new activities to the zones, real estate opportunities, outsourcing, manufacturing procedures and banking services. Additionally, it was a forum for asking and answering questions and bridging gaps in knowledge with regard to how things work in these special zones.
FEMOZA President Juan Torres, a Barcelona native, has been an advisor on international trade, free zones and export processing zones since 1986. His underlying desire to create this event was to bring together professionals from the Free and Special Zones to formally sign agreements in a single place. He looked to Monaco as a good fit due to its position as a financial centre and its special financial status.
A Free and Special Economic Zone is an area within the borders of a country that adhere to their own set of business and trade laws, differing from the rest of their country. The goals of this type of set up is to increase the trade balance and investment, create jobs and streamline administration. Currently, there are upward of 1,800 of these areas in existence.
Incentives are given to encourage companies to enter these zone agreements such as special taxation, trade, customs and quota benefits, as well as different regulations pertaining to labour.
The Monaco Economic Board has accomplished three missions with three very different entities, starting with a trip to the United States, followed by two locally-based forums with Vietnam and Djibouti.
While trade in Monaco was heavily impacted in 2020, last year saw rebounds in overall volume and a shift in some habits, including a record number of imports from outside the EU.
A Q4 report by IMSEE shows that Monaco’s revenue, excluding financial and insurance activities, exceeded €16 billion in 2021 for the first time ever, while the average property price per square metre hit a new milestone of €52,000.
Monaco’s Shibuya Productions invited a special guest to the premier screening of Top Gun: Maverick at Cannes, fulfilling French astronaut Thomas Pesquet’s lifelong dream of meeting his film hero Tom Cruise.
The Monaco government has put out an olive branch to French taxi drivers, relaxing summertime quotas in an effort to stave off a protest which threatens to disrupt the Monaco Grand Prix.
The Club Suisse de Monaco recently invited former German government minister Julia Klöckner to speak on a variety of topics, including the effects of rising inflation in the EU.
Monaco welcomed four new Ambassadors to town this week, given a warm reception by first the Prince, then by the Minister for External Relations and Cooperation, who treated them to lunch.
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More than 150 years ago, before the urbanisation of the Principality, ninety percent of its land, which in those days included Roquebrune and Menton, was used for agricultural development and farmers were taxed on citrus produce.
When the railway link connecting Monaco to France began service, five years after SBM opened the Monte Carlo Casino in 1863, tourism quickly replaced the agriculture economy as visitors, either looking for Lady Luck at the world famous casino or wanting to take a gander at how one percent of the other half live, descended in steady numbers on the principality.
[caption id="attachment_11242" align="alignnone" width="709"] Philip Culazzo makes Monaco's only orange liqueur[/caption]
Although today’s Monaco is described as “100 percent urban”, it still has a trace of those agricultural roots, with its 600 bitter orange trees, which you’ll find along avenue Grande-Bretagne, and boulevards Suisse, Italie and Moulins. A detail not overlooked by resident Philip Culazzo.
“I trade foodstuffs,” Mr Culazzo, who’s lived in the Principality for seven years, tells Monaco Life, “and I understand quality control. Monaco’s orange trees are organic, they are not treated with pesticides, but they are too bitter to eat, so charitable organisations cannot use them. It’s a shame that they are wasted.”
Mr Culazzo, a Dubliner with French and Italian heritage, was also aware that while Monaco offers a great deal in terms of sightseeing and culture, and visiting family and friends, there was no locally-made product that tourists could buy as a memento or that residents could offer to their guests.
Two years ago, Mr Culazzo contacted the government to inquire whether he could experiment with some of the bitter oranges. He bought distilling and fermentation equipment and started testing. When he presented the results to the administration, they were on board. He founded l’Orangerie in 2015.
“I love wines and spirits, and often visit vineyards on holidays,” he told Monaco Life from his recently opened shop at 9 rue de la Turbie, near Place des Armes. “I’m not an oenologist, I’m not a scientist, so I’m learning about the chemical process of transforming oranges into a digestif that tastes this good.”
Four ingredients make up l’Orangerie: Monaco bitter oranges, a small amount of sugar, water and alcohol. Similar to limoncello, the alcohol content is 30 percent. Last year, 15,000 tonnes of oranges produced 50,000 bottles.
“There are no added colours or chemicals, the drink is 100 percent natural,” Mr Culazzo explains. A framed letter in French on the wall behind him expresses appreciation for the bottle of l’Orangerie, the first ever produced, from HSH Prince Albert.
“You may find some deposits at the bottom of the bottle, but this follows the trend of organic wines also.”
The orange liqueur is produced entirely on site, from the manual peeling to production. During the two-month harvest, which started the first week of January, a month earlier than usual due to the warmer weather, Monaco’s garden services deliver crates of Monaco’s finest (and only) citrus directly to rue de la Turbie. The fragrance of the oranges cannot be contained within the atelier.
[caption id="attachment_11800" align="alignnone" width="640"] Philip Culazzo offers a degustation to Secretary of State at the Palace, Mr Jacques Boisson, and his wife.[/caption]
Secretary of State at the Palace, Jacques Boisson, and his wife, returning to the Rock after lunch, are intrigued by the aroma and the colourful window front so decide to pop in. They’re offered a degustation of the orange liqueur by Mr Culazzo.
The Boissons, a delightful couple who lived for many years in New York and also Paris, are instant fans of the drink – “very fragrant, ideal as an apéro with friends” – and purchase a bottle, which sells for €25.
“My goal is to sell 50,000 bottles a year,” says Mr Culazzo. “The idea is Monaco first and foremost, and I hope people will have a bottle in their homes to offer visitors.”
The eye-catching bottle, which reflects glamour of the thirties, uses a textured paper like an orange peel. L’Orangerie has permission to sell bottles directly from the atelier, but it’s also available to buy at the Wine Palace and Mr Room Service. Otherwise, restaurants, beach clubs, bars and nightclubs in Monaco are beginning to stock it.
Already the orange-flavoured liqueur has inspired several cocktails: The Monaco Spritz (orange liqueur, Prosecco, ice and zest), The Rocher (with gin) and the rose-syrup La Gracieuse, and surely more will follow.
Article first published February 16, 2017.
[caption id="attachment_3146" align="alignnone" width="567"] The third edition of the Ladies’ Rally Vintage Car Charity Event takes place Sept 18.[/caption]
The third annual Ladies Vintage Car Rally is almost here again with the same purpose as the very successful previous events, to raise funds for Child Care Monaco’s girls’ school in India. This year’s Rally on September 18 takes on a new dimension with Place du Casino of Monte-Carlo especially privatised for the event.
Organiser Martine Ackerman reminds participants that, unlike many motoring events in Monaco, this is not a race. “Come enjoy, or even drive the beautiful vintage cars thanks to the great help and support of Fabrice Leroy from Rent a Classic Car and the other sponsors such as Café de Paris, Restaurant CastelRoc, Organic Spa & Hair, Champagne Taittinger and many more,” Martine says.
The theme for 2016 is “Belle en perles – Coco Chanel style,” which needs no translation. The day starts at 8:15 am in front of the Casino, with departure at 9 am, and ends at Palace du Palais at 7 pm, with a cocktail and awards giving at Le Castelroc restaurant. Martine emphasises the need for everyone participating to contact childcare@monaco.mc
before September 1, and in her usual friendly manner adds: “If you have any questions, needs or requests, we are here to help you!”
In 2012, Martine set up the association Child CARE Monaco with the objective to offer education to underprivileged children all over the world. After several visits to India, they established the Sneh Girls School, which welcomes 90 girls every day on borrowed premises. But the facility has quickly proved too small as it also accommodates girls from villages nearby so the following year, Child CARE Monaco build a school with a dispensary, two additional classrooms and a playground.
If you can't make the Ladies Vintage Car Rally, you can help by sending a donation or sponsoring a child age 5 to 13 for €149 per year, which covers 1 school year, 2 meals per day, basic medical needs and the school uniform.