Switzerland Confirms Not Planning To Join EU Over Political, Economic Concerns

Switzerland has no interest in joining the European Union, since membership in the EU is excessive for the Swiss economy and will limit its negotiating capabilities, the report of the Federal Council on Swiss-EU relations said on Friday.

MOSCOW (UrduPoint News / Sputnik - 09th December, 2022) Switzerland has no interest in joining the European Union, since membership in the EU is excessive for the Swiss economy and will limit its negotiating capabilities, the report of the Federal Council on Swiss-EU relations said on Friday.

"Accession to the EU: complete integration of Switzerland into the EU as a member state would have granted full participation in the internal market. However such level of integration would have gone beyond economic needs of Switzerland. From the Swiss perspective, such narrowing of room for maneuvering could not have been compensated by full participation in the decision-making process (of the EU)," the document said.

At the same time, the government noted that it intended to maintain a high level of bilateral cooperation with the EU as it was beneficial to both parties. The EU was the main trading partner of Switzerland, while Switzerland was the EU's fourth largest trading partner, according to the report.

"Switzerland and the EU share the same fundamental values. The Federal Council notes that European policy is interest-driven policy, and that Swiss interests begin in and with Europe. In the current global situation, characterised by multiple crises, secure and stable relations between Switzerland and the EU are becoming more important than ever. They guarantee prosperity and stability for both parties," the document said.

The report has been adopted by the Federal Council following consultations with foreign relations committees of both chambers of the Swiss parliament.

In May 2021, Switzerland unilaterally suspended talks on a frame agreement with the EU, which started in 2014, due to concerns that it might put at risk high salaries in the country and EU nationals would be able to receive Swiss social benefits.