Swiss business lobby hails recent EU deal

The European Union and Switzerland reached a political deal on December 20, 2024 to overhaul their trade ties. Keystone / Alessandro Della Valle

The Swiss Business Federation (economiesuisse) has welcomed the recent Swiss-EU deal to overhaul their trade ties. The new package of bilateral agreements will improve cooperation with Brussels and ensure a stronger position, federation officials declared on Tuesday.

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Economiesuisse President Christoph Mäder told reporters in Bern that Swiss business circles had drawn a positive assessment of the package of agreements concluded with the EU last year, which will enable access to the European market to be consolidated in the long term.

Cooperation programmes negotiated in specific areas, such as research and development via the Horizon Europe programme, are extremely positive, says economiesuisse. The federation also welcomes the fact that a safeguard clause was integrated into the deal on the issue of free movement.

Specific proposals on how to implement the deal in Switzerland will now be decisive for the final evaluation of the bilateral agreements, it said.

In any case, the flexibility of the labour market will not be negotiable, added economiesuisse.

Strengthening Swiss attractiveness

Following recent signals from US President Donald Trump, economiesuisse believes Switzerland should boost its attractiveness. “We must overcome blockages and vested interests. Ensuring prosperity and security today requires a spirit of collective responsibility and courageous decisions,” said Mäder.

“More competitiveness, more security, more cooperation. This must be the direction for Europe and Switzerland in the years to come.”

The country’s budget must also be set on solid long-term foundations, which is the only way to create room for manoeuvre to invest in security and defence, he added. In this respect, business circles support the savings programme presented by the Federal Council, which must be maintained as it stands. All sectors must make their contribution, it says.

‘Strong UBS’ needed

On the question of banking, the business federation insists that Switzerland maintains a strong UBS. It would be a mistake to impose financial requirements on the bank that would prevent it from asserting itself in the face of international competition, said Mäder. “But that does not mean that we should not optimise and improve existing banking regulations,” he noted.

The president highlighted certain problems identified by the recent report of the parliamentary commission of inquiry into Credit Suisse, namely insufficient management, partial use of the supervisory instruments available to the regulatory body FINMA and poor cooperation between the authorities. A coordinated approach at international level is essential in terms of regulation, he added.

He also criticised the “environmental responsibility” initiative launched by the Young Greens, on which citizens will vote on February 9. If it passes, the proposal will lead to higher prices, consumption bans and a more restrictive regulatory framework, said Mäder.

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Translated from French by DeepL/sb

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