Bilateral relations between Switzerland and the Principality of Monaco are very good. A Swiss ambassador (based in Paris) has been accredited to the Principality since 2006. Contact between the two countries takes place primarily at the multilateral level within United Nations (UN) institutions and the International Organisation of French-speaking Communities. Both countries have an interest in promoting the financial and banking sector. Due to Monaco's role as a financial centre, Swiss banks also maintain a presence in the country. Approximately 1,000 Swiss nationals live in Monaco.