“Negotiations present an opportunity to deepen and strengthen the important and valuable UK-Switzerland trade relationship for the benefit of a more prosperous future for two like-minded European nations,” the two countries said in a joint statement.

Switzerland and the United Kingdom are both committed to achieving an ambitious agreement which reflects the 21^st century trading environment and delivers commercially meaningful opportunities in services and goods. A modern, comprehensive FTA will strengthen commitments to trade in areas, including digital trade, which are not included in the current agreement.

A new FTA is expected to provide long-term legal certainty for business. It will enhance trade agreement from 2019 and build on recent successes in their bilateral trading relations such as the extended Services Mobility Agreement and the Mutual Recognition Agreement in relation to Conformity Assessment, agreed last year. It will also reflect and complement their ongoing dialogues and areas of collaboration.

The modern FTA will further strengthen economic relations between Switzerland and the United Kingdom and provide an excellent basis for future cooperation opportunities, particularly on areas where both the countries are mutual leaders such as innovative research and development, the release added.

Switzerland’s and the United Kingdom’s negotiation teams have been instructed to hold the first official round of negotiations in London this May, and a second round in autumn.

Fibre2Fashion News Desk (KD)