Britain, Switzerland to hold talks for new free trade agreement
The Community News/London
Eyeing to maintain reputation of services superpower, Britain will soon hold talks with Switzerland government for formulating new free trade agreement.
UK Trade Secretary Kemi Badenoch will travel to Switzerland on Monday 15 May to start negotiations on new free trade agreement.
Badenoch will hold discussions on new trade agreement with her counterpart Federal Councillor guy Parmelin in Switzerland capital, Bern.
It is worth mentioning here that Switzerland is UK’s 10th largest trade partner with commercial activities reaching to a high 66 billion dollars.
One of the wealthiest country in the world, Switzerland and England are the biggest services providers in the world in financial, legal and architecture sectors.
The present free trade agreement between the two countries is more than 50 years old and it doesn’t covers sectors as services, investment, digital or infra.
The UK government expects that new agreement will strengthen both countries image as services superpowers. It is also likely to boost investment in emerging technologies, data innovation and digital trade.
Commenting on the visit, Badenoch said, “UK and Switzerland are natural trading partners and today’s launch will play to our strengths as services superpowers.
It will also boost investment in emerging technologies, data innovation, and digital trade.”
The talks will take place at Federal Palace of Switzerland and first round for discussions for agreement is likely to commence by 22 May.
