Modernised free trade agreement strengthens relations with the UK

The modernisation of the free trade agreement between Switzerland and the United Kingdom places bilateral economic relations on a sustainable footing. scienceindustries welcomes the successful conclusion of the negotiations.

scienceindustries, the business association representing the Swiss chemical, pharmaceutical and life sciences industries, welcomes the successful conclusion of negotiations on the modernisation of the Free Trade Agreement (FTA) between Switzerland and the United Kingdom. scienceindustries thanks the Federal Council and the negotiating delegations for their great commitment to the forward-looking development of bilateral economic relations.

The United Kingdom is one of Switzerland’s most important trading partners. “For our export-oriented chemical, pharmaceutical and life sciences industries, the United Kingdom is a significant market as well as a key research and innovation partner,” said Stephan Mumenthaler, Director of scienceindustries. The modernisation of the Free Trade Agreement strengthens economic ties, boosts Switzerland’s competitiveness as a business location and makes an important contribution to the country’s economic resilience.

Strong intellectual property protection boosts innovation

Switzerland has been one of the world’s leading centres of innovation for many years. The chemical, pharmaceutical and life sciences industries make a decisive contribution to the country’s innovative strength, accounting for more than a third of private investment in research and development. Intellectual property forms a central foundation for innovative strength and, consequently, for Switzerland’s competitiveness and prosperity.

This makes it all the more important that a strong chapter on intellectual property (IP) is enshrined in the modernisation of the free trade agreement with the United Kingdom. “Effective protection of intellectual property is indispensable for our highly innovative chemical, pharmaceutical and life sciences industries. By setting high IP standards, Switzerland and the United Kingdom are creating a reliable framework for innovation and investment, whilst at the same time establishing an international benchmark for future high-quality free trade agreements,” said Mumenthaler.

scienceindustries will analyse the contents of the modernised free trade agreement in detail once the treaty texts have been published. A final assessment of the individual provisions will be subject to this in-depth review.

Further information:

Stephan Mumenthaler, Director

Tel. 079 593 91 63, stephan.mumenthaler@scienceindustries.ch