Kemi Badenoch flying to Switzerland to discuss post-Brexit trade deal
Kemi Badenoch will fly to Switzerland on Monday for talks with her Swiss counterpart on a new post-Brexit trade deal, describing the two countries as “natural trading partners”.
The business and trade secretary is meeting Guy Parmelin in Berne to discuss a “modern” UK-Switzerland free trade agreement (FTA) that would boost trade between two “services superpowers”, she said.
“There’s a huge prize on offer to both the UK and Switzerland by updating our trading relationship to reflect the strength of our companies working in areas ranging from finance and legal, to accountancy and architecture,” said Badenoch ahead of the talks at the Federal Palace of Switzerland.
“The UK and Switzerland are natural trading partners and today’s launch will play to our strengths as services superpowers, while also boosting investment in emerging technologies, data innovation and digital trade.”
The government is keen to forge new trading relationships in the wake of Brexit and most recently joined the 11-member Asia-Pacific trade bloc – the Comprehensive and Progressive Agreement for Trans-Pacific Partnership – that includes Japan and Australia.
Switzerland, one of the wealthiest countries in the world, is already the UK’s 10th largest trade partner, accounting for 3.1% of its trade in 2022. The total trade in goods and services (exports plus imports) between the UK and Switzerland was nearly £53bn last year, up £13bn on 2021, according to the department for business and trade.
William Bain, head of trade policy at the British Chambers of Commerce, described the Swiss talks as “one of the most important sets of negotiations for business the UK government has launched in the post-Brexit era”.
“The 2021 continuity agreement post-Brexit only rolled
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