Member News

Switzerland backs diversification of trade partners

Bern – Switzerland plans to further develop bilateral ties with the EU. At the same time, links with other important trade partners are to be strengthened, including with the USA and China. This is stipulated in the federal government’s revised foreign economic policy strategy.

The Federal Council published its revised foreign economic policy strategy on Wednesday. According to a press release, this serves to “set the course for the federal government’s foreign economic policy in the medium to long term”. It aims to provide direction with regard to challenges such as the pressures on world order and protectionist tendencies. The objective is to maintain and increase the prosperity of Switzerland.

Switzerland is continuing to pursue multilateral approaches for this. Import duties for industrial goods are to be abolished, and technical regulations are to be appropriate and proportionate. Access to the services and public procurement markets are to be free from discrimination.

Switzerland still plans to come closer to the regulations of the EU, its most important trade partner. The bilateral ties are to be maintained and further developed. At the same time, links and collaboration with other important trade partners are to be developed and strengthened, including the USA, China and the UK. However, “greater consideration is to be given to sustainability and human rights issues” in collaborations with China. Diversification of the import and export markets should strengthen Switzerland’s resilience.

President of the Swiss Confederation Guy Parmelin writes in the foreword that the revised foreign economic policy strategy “does not propose any fundamental change in direction”. He adds: “Instead, it intends to help identify the upcoming economic challenges and highlight the associated opportunities and risks for Switzerland as a business location.”

Compliments of Switzerland Trade & Invest – a member of the EACCNY.