Liechtenstein's foreign economic policy has been dominated by its customs union with Switzerland. This union also led to its independent membership in the European Free Trade Association (EFTA) in 1991. Unlike Switzerland however, Liechtenstein is part of the European Economic Area.

Liechtenstein, officially the Principality of Liechtenstein, is a doubly landlocked German-speaking microstate located in the Alps between Austria and Switzerland. Liechtenstein is a semi-constitutional monarchy headed by the prince of Liechtenstein of the House of Liechtenstein, currently led by Hans-Adam II. Liechtenstein is bordered by Switzerland to the west and south and Austria to the east and north. It is Europe's fourth-smallest country, with an area of just over 160 square kilometres and a population of 39,790. It is the world's smallest country to border two countries.