Switzerland and the United Kingdom agreed an updated free trade agreement,
aiming to deepen economic ties between the two largest non-EU West European
economies. Negotiations, launched more than three years ago, were declared
concluded and the accord was signed in Bern on Monday by UK Business and Trade
Secretary Peter Kyle and Swiss Federal President and Minister of Economics
Affairs Guy Parmelin. The pact builds on a 2023 financial services agreement and
targets easier cross‑border operations for financial, technology, pharmaceutical
and legal services through improved market access, reduced administrative
barriers, strengthened data sharing and measures to facilitate labor mobility.
The UK said bilateral trade exceeded £50bn last year (~$67bn), with roughly
£30bn in goods. Officials estimate services trade could expand by about £5.2bn
annually over the long term under the agreement.
