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CBI and economiesuisse join forces to create UK-Swiss Bilateral Trade and Investment Council

The UK’s biggest business organisation – CBI – and economiesuisse have joined forces to create a Bilateral Trade and Investment Council aimed at improving terms of the UK-Swiss FTA which is expected to open for renegotiation this year.

Deepening trade ties between the two economies will bring benefits in sectors such as services and digital trade, where both countries excel.  

The UK is Switzerland's third most important economic partner worldwide after the EU-27 and the USA and Switzerland is the UK’s tenth. There is a strong, shared desire to increase the ambition following previous agreements reached by the UK’s Department for International Trade. 

The Council will provide a vital platform, fostering high-level dialogue between policymakers and businesses in both countries, and is backed by both the UK and Swiss governments.  

Welcoming the announcement of the new Bilateral Trade and Investment Council, Lord Karan Bilimoria, CBI President, said:  

“I am excited by the prospect of FTA talks with Switzerland reopening in earnest this year. Exporting and growing international revenue needs to be a priority for the UK. Businesses that export are more competitive, dynamic and innovative. We must encourage all UK companies, including start-ups to have the attitude and desire to export from day one – as with my experience at Cobra Beer.  

“We share many interests with our Swiss partners, ranging from technology adoption, via greater research, to sustainability. So I am hopeful that we can bolster existing arrangements for the benefit of communities – and competitiveness - in both countries.” 

Christoph Mäder, President of economiesuisse, added:

"Switzerland and the United Kingdom are ideal economic partners in many areas. This is also true for economiesuisse and CBI. The new Trade and Investment Council will help politicians and business to make even better use of the current momentum in bilateral relations for both sides.” 

Ranil Jayawardena MP, International Trade Minister, said: 

“Switzerland is one of the United Kingdom’s closest trading partners. From financial services to science and innovation, our two countries share many strengths, but there are always opportunities to go further. 

“That’s why I welcome the creation of the Bilateral Trade and Investment Council by the CBI and economiesuisse, which will foster closer collaboration with Switzerland, helping drive jobs, growth and economic prosperity across Britain.” 

Stephen Timms MP, the Prime Minister’s Trade Envoy for Switzerland and Liechtenstein, said:

“I welcome the launch of the UK-Swiss Trade and Investment Council. This is an exciting time for bilateral trade relations between our two countries and I look forward to supporting the Council as we build on our already strong trading relationship – particularly growing our financial and professional services sector and increasing opportunities for investment.” 

 

Original article link: https://www.cbi.org.uk/media-centre/articles/uk-swiss-business-groups-jointly-create-bilateral-trade-and-investment-council/

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