Switzerland’s Government Approves Contentious EU Deal

(Bloomberg) — The Swiss government approved the country’s new bilateral deal with the European Union, which was hammered out late last year after long negotiations with the bloc.

The package, which has generated controversy because of claims by some politicians that it will weaken Swiss sovereignty, will now go to a public consultation before a national vote is held. It covers topics ranging from immigration to wage protection and electricity. 

“Given the current global unrest, maintaining good relations with the neighboring countries is key,” the Swiss government said in a statement Friday, noting that the EU is Switzerland’s most important trading partner. 

“Switzerland is committed to ensuring that its participation in these markets is as far-reaching and geographically diversified as possible,” it added. “This also bolsters resilience in crises.”

Switzerland pulled out of negotiations with the EU in 2021 in a shock move, but subsequently restarted talks because ties with the EU were important for security, trade and prosperity. It said external studies “clearly conclude that the new package would benefit the Swiss economy.”

 

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