The Republic of San Marino has a GDP of $1.54 billion, and a per capita income of $46,700. Official relations between Canada and the Republic of San Marino were first established in 1960, at the consular level. The two countries have maintained full diplomatic relations since 1997. Canada’s embassy to San Marino is located in the Canadian Embassy in Rome, while San Marino does not have an ambassador accredited to Canada. San Marino has a relatively small population (29,000) and area (61 sq. km.) and trade tends to be captured in Italy statistics. Bilateral relations exist primarily related to multilateral fora such as the UN and OECD. In 2011, a Tax Information Exchange agreement went into effect between Canada and San Marino, signalling the commitment of both countries to financial transparency.
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