Swiss business federation endorses new EU trade agreement

In a significant development for Swiss-EU relations, the Swiss Business Federation (economiesuisse) has formally endorsed the groundbreaking trade agreement reached between Switzerland and the European Union on December 20, 2024. The federation's president, Christoph Mäder, announced the positive assessment during a press conference in Bern, emphasizing the deal's crucial role in securing long-term access to the European market.

The agreement represents a comprehensive overhaul of bilateral relations between Switzerland and the EU, marking a new chapter in their complex economic partnership. This endorsement from Switzerland's leading business organization carries substantial weight in the ongoing discussion about the country's future relationship with its largest trading partner.

The federation highlighted several key advantages of the new agreement, particularly emphasizing enhanced research cooperation through the Horizon Europe programme. This inclusion is seen as a major win for Switzerland's innovative business sector and research institutions.

Economiesuisse specifically praised the incorporation of a safeguard clause regarding free movement, demonstrating the agreement's balanced approach to addressing Swiss concerns while maintaining crucial economic ties. The business community views this as essential for maintaining Switzerland's competitive edge while protecting domestic interests.

While supporting the agreement, economiesuisse emphasized that the implementation phase will be crucial for its success. The federation stressed that maintaining labor market flexibility remains non-negotiable, highlighting the delicate balance between European integration and preserving Swiss economic sovereignty.

The organization also addressed concerns about banking regulations, particularly regarding UBS's position in the international market. Mäder emphasized the importance of maintaining competitive conditions for Swiss banks while acknowledging the need for optimized regulations.

Looking ahead, economiesuisse sees the agreement as a crucial step in strengthening Switzerland's position in an increasingly competitive global landscape. Mäder's call for 'more competitiveness, more security, more cooperation' encapsulates the federation's vision for Switzerland's future relationship with the EU.

The federation also emphasized the need for solid long-term budget foundations to support investments in security and defence, backing the Federal Council's proposed savings program. This comprehensive approach reflects the business community's understanding that the agreement's success depends on broader economic and political stability.