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2026-07-13 22:18:17
Switzerland and the UK have reached a trade agreement, deepening post-Brexit economic and trade relations. The agreement further strengthens ties between the two largest non-EU economies in Western Europe. The two countries announced the conclusion of negotiations on Monday, more than three years after they began. Building on the financial services agreement signed in 2023, the agreement aims to facilitate cross-border business operations for companies in sectors such as finance, technology, pharmaceuticals, and legal services. British Business and Trade Secretary Peter Kehl and Swiss Federal President and Minister of Economic Affairs Guy Palmer jointly signed the agreement in Bern, emphasizing that enhanced data sharing and improved labor mobility will help attract investment from both countries. The UK stated that bilateral trade between the UK and Switzerland exceeded £50 billion (approximately $67 billion) last year, with about £30 billion coming from trade in goods. Under the agreement, improved market access and reduced administrative barriers are expected to increase bilateral trade in services by £5.2 billion annually in the long term.
