Switzerland and Great Britain gave the go-ahead in Bern on Monday for negotiations on the further development of the existing bilateral trade agreement. The first round of negotiations will take place in London in May.
As the Federal Ministry of Economic Affairs, Education and Research (EAER) announced on Monday, Federal Councilor Guy Parmelin received British Trade Minister Kemi Badenoch in Bern on Monday. In addition to the further elaboration of the agreement, the two also discussed further opportunities for cooperation.
During a short media appearance in Bern, Badenoch spoke of great opportunities in the event of an improved agreement. WBF head Guy Parmelin said negotiations could hopefully be concluded soon.
Trade relations between Switzerland and Great Britain are currently regulated in the bilateral trade agreement of 2019. According to the WBF, this guarantees the mutual rights and obligations that linked the two states before Brexit as much as possible.
The existing contractual relationship must now be adapted to current needs and developed further towards the most comprehensive trade agreement possible.
The United Kingdom is one of Switzerland’s top ten trading partners. The bilateral goods trade volume in 2022 was about 13 billion francs. If precious metals trading is included, the volume is CHF 20.6 billion.
According to the EAER, Britain is Switzerland’s third largest trading partner for services with a volume of approximately CHF 23 billion. (sda)
Soource :Watson
I am Amelia James, a passionate journalist with a deep-rooted interest in current affairs. I have more than five years of experience in the media industry, working both as an author and editor for 24 Instant News. My main focus lies in international news, particularly regional conflicts and political issues around the world.
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