UK, Switzerland Start FTA Talks
The U.K. and Switzerland have agreed to start negotiations on a new free trade agreement with an aim toward opening opportunities for services and investment, the U.K.'s Department for International Trade announced. Releasing a document outlining a strategic approach to the FTA talks, the U.K. said the agreement will also look to boost goods trade, promote innovation in emerging technologies and create economic opportunities for the whole of the U.K.
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Trade between the two is currently governed by a continuity trade agreement that replicates terms of trade between Switzerland and the EU. This deal does not cover services trade, the DIT said.
The strategic approach document laid out negotiating objectives for the FTA, covering overall goals, trade in services, public services, telecommunications, digital trade, financial services, IP, rules of origin, competition, subsidies, consumer protection, trade remedies and dispute settlement, among other things. The U.K. said it wishes to secure market access for British investors, ensure the deal does not have an Investor State Dispute Settlement mechanism and continue to protect the National Health Service.
The U.K. also said it will seek provisions addressing the "trade-distorting effects of corruption on global trade, investment, and fair competition to help maintain the UK’s high standards in this area."