The United Kingdom: A Key Economic Partner for Switzerland
Substantial Trade and Investment Relationship
The United Kingdom (UK) remains a significant economic partner for Switzerland. In 2022, the bilateral trade in services amounted to CHF 20 billion, highlighting the importance of this sector for both countries. Additionally, Swiss investment in the UK reached CHF 70 billion at the end of 2021, indicating the confidence of Swiss businesses in the UK market.
Bilateral Agreements Post-Brexit
Following the UK's withdrawal from the European Union on January 1, 2021, Switzerland has established new bilateral agreements to regulate its relationship with the UK. These agreements aim to protect the rights of citizens from both countries and ensure continuity in various areas outlined in Annex II.
Strong Community Ties
The deep ties between Switzerland and the UK are further evidenced by the presence of approximately 37,000 Swiss citizens residing in the UK and 42,000 British citizens living in Switzerland. These communities play a vital role in fostering cultural exchange and maintaining close relations between the two countries.
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