Switzerland and the United Kingdom concluded negotiations on a modernized free trade agreement on Monday, replacing the temporary arrangements that have governed bilateral trade since Brexit.
Swiss President Guy Parmelin and UK Business and Trade Secretary Peter Kyle announced the agreement, describing it as a major step toward strengthening economic ties between two of Europe's largest economies outside the European Union.
The updated agreement preserves existing tariff preferences while expanding cooperation in services, digital trade, investment, telecommunications and financial services. It also includes measures to simplify the movement of business professionals, improve access to public procurement markets and strengthen intellectual property protections.
According to both governments, the deal will provide greater legal certainty for businesses, reduce barriers for small and medium-sized enterprises and promote sustainable economic cooperation.
The agreement also carries broader geopolitical significance, reflecting closer economic cooperation between the UK and Switzerland at a time of growing global trade uncertainty.
The treaty is expected to be formally signed later this year once the remaining legal work has been completed. It will then require ratification in both countries before entering into force.
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