EU's relations with Liechtenstein are based on the EEA (European Economic Area) Agreement, and there are very few issues that are not covered by this Agreement. However, Liechtenstein also has a customs and monetary union with Switzerland since 1924 and is strongly integrated in the Swiss economy in addition to its participation in the European Economic Area.

In addition to the EEA Agreement, the EU has bilateral agreements with Liechtenstein on subjects such as taxation of savings . Liechtenstein will also be part of the Schengen/Dublin co-operation. Negotiations on EU-Liechtenstein co-operation on combating fraud and exchange of information on tax matters are expected to be concluded in the near future.