- Home
- Business
- News
- UK, Switzerland Sign Agreement to Continue Trading After Brexit As Before - Statement
UK, Switzerland Sign Agreement To Continue Trading After Brexit As Before - Statement
Umer Jamshaid Published February 12, 2019 | 12:07 AM
The United Kingdom and Switzerland inked an agreement on Monday that would allow both UK and Swiss business to continue trading without any additional tariffs and duties on goods, the UK Department for International Trade said in a statement
The agreement was signed earlier in the day in the Swiss city of Bern by UK Secretary of State for International Trade Liam Fox and Swiss Federal Councillor Guy Parmelin.
"The agreement simplifies trade and allows businesses to continue trading freely, without any additional tariffs. It continues the elimination of duties on the vast majority of goods traded between the UK and Switzerland.
Trading on these preferential terms rather than on World Trade Organization terms will deliver significant savings and help to safeguard British jobs," the statement read.
The new agreement will help to further boost burgeoning trade between the United Kingdom and Switzerland, which in 2017 amounted to over 32 billion Pounds ($41 billion), according to the UK Department for International Trade.
The United Kingdom is set to leave the European Union in late March. The two sides have reached a withdrawal deal. However, it has not yet been approved by UK lawmakers, prompting fears of a no-deal Brexit both in Brussels and in London.
Related Topics
Recent Stories
HEC reviews curricula for environmental sciences degree programme
ICC Asia looking forward to an action-packed Asia Cricket Week
Yuvraj Singh named ICC Men’s T20 World Cup 2024 Ambassador
Greece hands Olympic flame to 2024 Paris Games hosts
Two Kyiv hospitals evacuating over feared Russian strikes
World must act on neurotech revolution, say experts
Charles & Catherine's cancer diagnoses
Champions Alcaraz and Sabalenka through in Madrid Open
King Charles to resume some public duties during cancer treatment: palace
US defense chief announces $6 bn in security aid for Ukraine
Heavy rains cause damage to Spezand-Taftan railway track
Woman stabbed in Israel, attacker killed: police
More Stories From Business
-
Finance minister reviews progress on FBR digitalization
9 hours ago -
US stocks rebound on tech earnings, London hits new record
9 hours ago -
US approves gene therapy treatment for hemophilia
9 hours ago -
KATI president for inclusion of agri sector in tax net
9 hours ago -
Ahsan chairs 13th CPEC-JCC preparatory meeting, reviews arrangements for high-level delegation’s v ..
10 hours ago -
Police to take every step for security of business community: IGP
10 hours ago
-
WB director, Planning minister discuss reforms in development projects
10 hours ago -
IP rights crucial in achieving SDG : Jam Kamal
12 hours ago -
FBR’s data protection efforts commended by OECD assessment team
12 hours ago -
US stocks rebound on tech earnings, London hits new record
12 hours ago -
SECP-IFSB workshop highlights Pakistan's progress in Islamic Finance Development
12 hours ago -
SBP to announce monetary policy on April 29
12 hours ago