Uk Switzerland Trade Agreement

The United Kingdom is an important economic partner for Switzerland. At present, relations between Switzerland and the United Kingdom are mainly governed by bilateral agreements with the European Union (EU). Under the withdrawal agreement between the UK and the EU, there is a transitional period that applies between the withdrawal date and at least 31 December 2020. During this transition period, the UK will continue to be part of the European internal market and customs union. The terms of the bilateral agreements between Switzerland and the EU continue to apply to relations between Switzerland and the United Kingdom. It is a signal that we are an open trading nation, ready to work with like-minded partners to break cross-border trade barriers and connect the world with capital. Continuity of trade in services will ultimately benefit businesses and consumers in our countries and around the world. The agreement builds on the existing trade agreement between the UK and Switzerland and comes into force on 1 January 2021. Together, these agreements will support more than $37 billion in trade and ensure access to low or no tariffs on thousands of products, including cars, medicines and watches.

LONDON – Britain and Switzerland have built a trade deal with the EU in a new service agreement that will extend business travel. The initial agreement will last two years to ensure continuity immediately after the transition period. It will help lay the groundwork for a future improvement in trade relations between united Switzerland. Total trade in goods and services between the United Kingdom and Switzerland is $37 billion. About 47% ($17.3 billion) of UK trade with Switzerland is services. You can use online tools that trade with the UK and check how you can export goods to check product and country-specific information on tariffs and current rules for trading goods in the UK. These tools are regularly updated to reflect changes. In order to ensure that the reciprocal rights and obligations in Switzerland`s relations with the United Kingdom apply as far as possible beyond this transitional period, Switzerland has agreements with the United Kingdom in certain areas, including trade.