Joint US-Swiss Trade Forum To Emerge From Failed FTA Talks
Unable to reach an agreement on the terms of a free trade agreement, the United
States and Switzerland have decided to establish a joint Trade and Investment
Cooperation Forum in an effort to strengthen their bilateral economic relationship
and lay the groundwork for the possible resumption of trade negotiations at a
later date.
The forum will be used to pursue initiatives in specific areas where both countries
share mutual interests, such as the services sector, manufacturing and agriculture.
In fact, it was agriculture that proved to be the major stumbling block to
a free trade agreement, after seven months of intensive negotiations ended last
month without a great deal of progress having been made. Whilst the United States
is pushing for a global agreement covering all sectors, the Swiss are holding
out for differentiated treatment for certain agricultural products. However, the exploratory discussions on a potential FTA have provided the basis
for the new Swiss-US Trade and Investment Cooperation Forum. Officials are set to release the details of this forum and an initial work
program in the coming weeks. Progress on the forum and the work program is due
to be reviewed mid-year. Nonetheless, the Swiss say that both countries remain interested in reaching
comprehensive free trade agreement and may resume discussions at a later stage. At its meeting on 18 January 2006, the Swiss Federal Council instructed the
Federal Department of Economic Affairs (DEA) to examine the feasibility of an
FTA with the US and submit a mandate for negotiations that included the relevant
conditions and exceptions. The DEA and the Federal Department of Foreign Affairs have also been instructed
to compile a report on the feasibility and the economic advantages and disadvantages
of a free trade agreement with the EU on agricultural products. .
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