Monday, May 29, 2023

United Kingdom begins talks for a new trade deal with Switzerland

Minister of trade and commerce Kemi Badenoch, of the United Kingdom, travels to Switzerland this Monday with the aim of negotiating a new bilateral agreement on trade with the Swiss Economy Minister, cow parmelin After Britain’s exit from the European Union.

loss exchanges According to a recent UK report, trade in goods and services between the two countries is set to reach £52.8 billion (around €60.7 billion) in 2022, representing 3.1% of total British foreign trade. british ministry Business.

“As the world’s two leading service economies, it is of great value to both United Kingdom How to do Swiss Update our business relationships to reflect the strengths of our companies in sectors ranging from finance legal matters for accounting and architecture,” Badenoch said in a statement.

Similarly, the minister stressed that it is necessary to “promote investment”. technologies Emerging Markets, Data Innovation and Digital Commerce”, aimed at streamlining commercial transactions between the two countries.

Among the objectives of the new agreement indicated in the statement, the United Kingdom is confident that lower tariffs on export Switzerland is to reduce the tax burden for its companies by €8.5 million (£7.4 million).

They also hope that it will benefit more and more 14,000 British companies which exports goods to Switzerland, most of which, 86%, are SMEs.

According to the British government, Switzerland hopes that its Import A 78% increase between now and 2050.

“this new Settlement This will be of great benefit to the financial sector of both countries, promoting cooperation, trade and mobility”, says Jos Dijsselhof, CEO of SIX, the main Swiss stock exchange.

He National Institute of Statistics The (ONS) reported that merchandise exports were to total £397 billion (€456 billion) in 2022, a 20% increase on the previous year.

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

Nation World News Desk
Nation World News Desk
Nation World News is the fastest emerging news website covering all the latest news, world’s top stories, science news entertainment sports cricket’s latest discoveries, new technology gadgets, politics news, and more.
Latest news
Related news


Please enter your comment!
Please enter your name here