Launch Date For Swiss-EU Bilateral Treaties Announced

by Ulrika Lomas, Tax-News.com, Brussels

28 March 2002

The seven bilateral treaties agreed by Switzerland and the European Union will come into effect on June 1, it was announced on Tuesday.

The Swiss business community expects that the treaties - which cover areas such as the liberalisation of labour markets, agriculture, air traffic, and research - will provide a boost to the country's economy, and will open the jurisdiction up to increased foreign investment and trade.

Speaking following the announcement, Balz Hosly, CEO of the Osec Business Network Switzerland (the government's foreign promotion wing) commented: 'We believe this is absolutely essential for the Swiss economy. We must not forget that every second franc is earned abroad.'

Mr Hasly revealed that his organisation has just published a new guide for companies preparing to enter the EU market, entitled 'Switzerland plus 7 - what the seven bilateral treaties will bring'.

He also told local news service, Swissinfo, that of the many provisions contained within the bilateral treaties, labour market liberalisation is the most eagerly awaited, as it is hoped that allowing EU citizens to live and buy property more easily in the country will help tackle the time bomb of an increasingly elderly population.

The Osec Chief Executive ended by concluding that the treaties will likely increase the alpine jurisdiction's attractiveness as a location for international business: 'For Switzerland, it's essential as a location to have these treaties because it gives big companies the ability to consider Switzerland as their future base,' he observed.

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