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- What is the UK-Swiss Bilateral Trade and Investment Council?
What is the UK-Swiss Bilateral Trade and Investment Council?
Last week, the first meeting of the new UK-Swiss trade council took place, where businesses spoke about joint trade ambitions and opportunities. Find out more about the council.
The CBI joined forces with economiesuisse to host the first the new Bilateral Trade and Investment Council on 16 March. The new council is welcomed by both the UK and Swiss governments: Ranil Jayawardena, International Trade Minister, said that the creation of the council would help to boost trade links between the UK and Switzerland by “helping drive jobs, growth and economic prosperity across Britain”.
The UK is Switzerland's third most important economic partner worldwide after the EU-27 and the USA; and Switzerland is the UK’s 10th.
Shaping the future of UK-Swiss trade
This council is a vital platform for high-level dialogue between policymakers and businesses in both countries.
Jointly chaired by Lord Bilimoria, CBI President and Christoph Mäder, Chair of economiesuisse, businesses from both organisations met with Swiss and UK government figures to kickstart discussions and shape the ambitions of both countries going into the negotiations.
The council discussed the current trade barriers and opportunities for improving trade between the UK and Switzerland.
High-level priorities were discussed for the two crucial negotiations coming up this year: the Free Trade Agreement (FTA) between the financial services Mutual Recognition Agreement. The council discussed current trade barriers between the two countries, from challenges on customs facilitation to regulatory cooperation. Closer trade ties between the two economies will bring benefits in key sectors such as in business travel and mobility, research and innovation funding and digital trade.
If you have any queries about the UK-Swiss Bilateral Trade and Investment Council, get in touch with Nicola.