UK-Switzerland Free Trade Agreement Consultation. What do you want to see?
Swiss President, Ignazio Cassis, is in the UK for bilateral meetings with Prime Minister Boris Johnson. They officially launched the UK’s public consultation on a bespoke Free Trade Agreement (FTA) with Switzerland.
The consultation is an important step towards the beginning of formal FTA negotiations with Switzerland.
An improved FTA would offer significant economic opportunities for both countries.?
The UK and Switzerland already enjoy a thriving trade relationship worth ￡34bn a year.?Switzerland is the UK’s 10th largest trading partner.?We have much in common and have long been friends and partners.?
However our current trading arrangements are outdated.?Our existing trade agreement largely dates back to the 1970s - before the advent of mobile phones, online shopping or even home computers. Although it liberalises trade in most goods, it does not cover the services or digital sectors, which are major engines of both of our modern-day economies.?Around half of UK-Swiss trade is in these services sectors.
The UK is therefore opening a public consultation on an enhanced FTA with Switzerland.
Open for 8 weeks from 28 April, it will give businesses, organisations and individuals the chance to inform the UK’s negotiating aims and is one of the key steps to take before launching formal negotiations for a significantly enhanced and upgraded bespoke deal.
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As two services powerhouses, we have a huge opportunity to negotiate an ambitious deal that will boost both our economies and show the world what is possible between two like-minded and innovative nations who are firmly within Europe but outside of the EU.?
We can go further on goods too. A large proportion of our trade in goods is in innovative sectors where both countries excel. For example, in 2020 the UK exported ￡539m of organic chemicals to Switzerland and imported ￡1.3bn of Swiss medicines and pharmaceuticals.
We already have tariff-free trade on most goods under our existing FTA but there is more that we can do.?For example we are seeking to explore how to remove mutual barriers to agricultural trade, including tariffs on products such as chocolate and British beef.
This will bring significant wider benefits to both countries too
Our shared values provide a solid foundation for greater cooperation in areas of mutual interest, such as tackling climate change.
In my recent visit to Switzerland I met many businesses and officials, and heard fascinating first-hand accounts of the amazing work taking place between our two countries, from scientific breakthroughs to the exporting of beer, financial services to rail. I firmly believe this renewed FTA would spur us onto even greater heights.
To follow the latest updates please follow Department for International Trade and connect with our Country Director in Switzerland, Noel McEvoy.
Look at the value of my liaising with Greek shipping owner attracting them to UK port having set up Freeport legislation through Lord Erroll for fast distribution of sealed geotagged containers delivered up to 3 weeks faster by railfreight than European transfer of goods to HGV's. greatly pleasing supply-chains & all involved now worth ￡bn's per month.
Great I hope a comprehensive FTA covering goods and services that suitably cover latest working practices whilst breaking down short sighted barriers. Both will win as each side has huge potential that will enable wider trade to flourish & stimulate wider investment. Efficient ability to tap into rapidly evolving technology and services will attract wider funding helping to stimulate a stronger post Covid recovery.
General Manager MES Group SA
2 年Great news and very welcome. Interesting to note that the focus will be on the digital and services sectors. Today's issue is that goods travelling by road have to cross the EU. Current EU restrictions which impose the same rules on transiting goods as goods being imported, How can an agreement between the UK and Switzerland change that? If that is not addressed, any FTA between the UK and Switzerland will remain in the same shackles. The TRQs are largely unchanged and permit Switzerland to continue it's protectionism of agricultural products. Why, where is the progress?
Chief Executive Officer at Alnahdy Global Force Ltd
2 年Keep it! WELL Done!!
Communication & Marketing Specialist | Public Sector & Private Sector | Brand | Strategy | Creativity
2 年Andrew Mitchell Umair Ahmad Noel McEvoy Helen Stubbs Pugin Anya J. M. Novak Jane Owen