The UK begins negotiations on a new trade agreement with Switzerland

minister Business and commerce Kemi Badenoch, from the United Kingdom, will travel to Switzerland on Monday with the aim of negotiating a new bilateral agreement on trade matters with the Swiss Economy Minister. Guy ParmelinThis is after Britain leaves the European Union.

the Exchanges The volume of trade in goods and services between the two countries reached 52.8 billion pounds (about 60.7 billion euros) in 2022, representing a total of 3.1% of the volume of British foreign trade, according to a recent report from the British Ministry of Commerce. British Ministry commerce.

“As two of the world's leading service economies, it is of great value to both countries United kingdom As for Swiss Modernizing our business relationship to reflect the strength of our companies operating in areas ranging from finance to… Legal issues “For accounting and architecture,” Badenoch said in a statement.

The minister also stressed the need to “encourage investment in the country.” Technologies emerging markets, data innovation and digital trade,” with the aim of simplifying commercial transactions between the two countries.

Among the objectives of the new agreement referred to in the statement is that the United Kingdom is confident of reducing customs duties on its imports exports To Switzerland reduce the tax burden by €8.5 million (£7.4 million) for their companies.

He also hopes to benefit more from this 14,000 British companies That export goods to Switzerland, the vast majority of which, 86%, are small and medium enterprises.

According to the British government, Switzerland is planning this Imports 78% growth from now until 2050

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“This is new an agreement “This will be very beneficial for the financial sector in both countries, enhancing cooperation, trade and mobility,” says Jos Desselhoff, CEO of SIX, the main Swiss stock exchange.

he National Institute of Statistics The Office for National Statistics reported that total trade exports in 2022 amounted to £397 billion (€456 billion), an increase of 20% compared to the previous year.

However, an increase in imports to the UK increased the trade deficit by £108 billion (€124 billion) last year.

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