Gibraltar/Madrid  - The United States and the British overseas territory of Gibraltar have signed an agreement that will allow them to exchange tax information, Gibraltar and Spanish media reported Wednesday.

The agreement was signed by US Treasury Secretary Tim Geithner and Gibraltar Chief Minister Peter Caruana in London in advance of the G20 meeting, which will discuss measures against offshore tax evasion.

The new agreement allows Gibraltar to "signal at the highest level that it is a mainstream quality finance centre," Caruana told the daily Gibraltar Chronicle late Tuesday. He offered similar agreements to other countries.

Geithner said the US was "embarking on an ambitious effort to deal with offshore compliance" as evidenced by the agreement with Gibraltar, which could serve as an "example for other financial centres around the world."

The agreement allows for the exchange of criminal and civil tax information, and for the US to access information on bank accounts in Gibraltar.

Spain, which claims sovereignty over Gibraltar, has criticized the enclave as a tax haven. (dpa)