Switzerland and the UK have signed in Bern on 11 February a trade continuity agreement that will serve as a basis for their trading relationship after Brexit. The accord replicates the majority of the trade agreements that currently govern relations between Switzerland and the European Union.
Anne-Marie de Weck, President of the British-Swiss Chamber of Commerce said: “It is imperative for our members, both British and Swiss businesses, that trade continues. Switzerland is the UK’s seventh largest export market, third largest non-EU market, eighth largest foreign direct investor, and tenth top destination for UK outward direct investment. It is paramount that the British and Swiss governments have secured the continuation of a huge trading relationship with this agreement.”
The agreement between Switzerland and the UK will come into force as soon as the Swiss-EU agreements cease to apply to relations between Switzerland and the UK.
Source: CFE’s Global Tax Top 10 – February 2019