Switzerland–United Kingdom Free Trade Agreement

The Switzerland–United Kingdom free trade agreement (SUKFTA) is a proposed free trade agreement which began negotiations on 15 May 2023. The trade agreement would be the third FTA to cover Switzerland–UK trade, superseding the Switzerland–UK Trade Continuity Agreement, updating the deal to cover services and digital trade. Trade value between Switzerland and the United Kingdom was worth £53,551 million in 2022.

History
From 1 January 1973 until 30 December 2020, trade between Switzerland and the UK was governed by the Switzerland–European Union trade agreements, while the United Kingdom was a member of the European Union. Following the withdrawal of the United Kingdom from the European Union, the UK and Switzerland signed a continuity trade agreement on 11 February 2019, based on the EU trade agreements; the agreement entered into force on 3 May 2021.

Negotiations
Trade negotiations formally opened on 15 May 2023.

Both sides refused to give a deadline for the conclusion of negotiations; the new agreement that reduces barriers to trade between the two services “superpowers” in areas like finance, legal and professional services, and architecture. The second round of negotiations took place from 18 September to 6 October 2023.

The third round of negotiations took place from 27 November to 14 December. Officials held technical discussions on areas such as procurement, investment, small-medium enterprises, sanitary and phytosanitary measures and animal welfare. The UK is also working with the Swiss to provide long-term certainty and greater market access for UK-Swiss service suppliers, claiming to boost bilateral trade in this area by £23.7 billion.

The fourth round of negotiations took place from 4 to 8 March 2024 in Bern.