‘Unprecedented deal’ with Swiss will boost economy
BRITAIN has kick-started work on an enhanced post-Brexit trade deal with Switzerland.
It aims to boost trade between the two services giants and comes after talks in Downing Street between Boris Johnson and Swiss president Ignazio Cassis yesterday.
In 2020, the UK was the second-largest exporter of services to the world, worth £266.8billion.
Switzerland was 12th largest, with £89.6billion.
Now the Department for International Trade is launching an eight-week consultation calling on businesses and the public for views.
Switzerland is an important partner for the UK, with bilateral trade worth nearly £35billion annually.
Many UK businesses benefit from tariff-free trade on most goods under our existing agreement rolled over from the EU. But it does not cover services, which account for over half of our bilateral relationship.
International Trade Secretary Anne-Marie Trevelyan said: “As two services super
powers, we have a huge opportunity to negotiate a modern, ambitious, unprecedented deal. “It will boost both our economies and show the world what is possible between two likeminded and innovative nations who are firmly within Europe but outside of the EU.” CBI president Lord Bilimoria said: “This presents an opportunity to increase cooperation on issues ranging from customs, reducing complexity in shortterm mobility and building cooperation
on innovation through our world-class research institutions.”
British Chambers of Commerce Head of Trade Policy, William Bain, said: “Switzerland is the UK’s tenth largest trading partner with a relationship worth £34.5billion in total trade in 2020.
“London, the South-East and East of England have especially strong export links to Switzerland.
“We look forward to sharing our ideas with government on a bespoke, ambitious trade agreement with Switzerland which boosts our exports across the UK.”