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Switzerland Confirms Status Quo With UK

by Ulrika Lomas, Tax-News.com, Brussels

06 February 2020


Switzerland has said that the withdrawal of the UK from the EU on January 31 will not change the relationship between Switzerland and the UK in the near future.

Switzerland said that the bilateral agreements between Switzerland and the EU will continue to apply to the UK until the end of the transition period on December 31, 2020 (which may be extended).

Switzerland noted that during the transition period, the UK will remain part of the EU single market and customs union. EU third-country agreements, including the bilateral agreements between Switzerland and the EU, will also continue to apply during this period.

Switzerland has to date concluded five new agreements with the UK in the areas of trade, road transport, air transport, insurance, and citizens' rights. These will enter into force at the end of the transition period. The Swiss Government said that the transition period provides Switzerland with an additional window of opportunity to complement or further develop these agreements in talks with the UK.

The UK was Switzerland's sixth largest trading partner in 2018, with trade with over CHF36bn.

TAGS: tax | export duty | insurance | United Kingdom | agreements | Switzerland | import duty | trade | European Union (EU) | Europe

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