The eight-weeks consultations<\/strong> are the prerequisite for negotiations which, once formalised, will offer significant opportunities<\/strong> to companies in both countries.<\/p>\n What are the goals<\/strong> of the future agreement? Which sectors<\/strong> could benefit most from it?<\/p>\n <\/p>\n Switzerland<\/strong> and the United Kingdom<\/strong> are linked by strong economic ties<\/strong>.<\/p>\n With bilateral trade worth nearly \u00a335 billion annually<\/strong>, the two countries have trade relations in many strategic areas.<\/p>\n However, the current agreements date back to the 1970s and are therefore outdated.<\/p>\n The evolution of the technological landscape<\/strong> requires an updating of the rules so that companies can grow more efficiently.<\/p>\n This is a fundamental principle, especially if we consider the leading position<\/strong> of the UK and Switzerland in services<\/strong>.<\/p>\n In fact, the two countries are respectively the world’s second and twelfth largest net exporters of services. The UK exported more than \u00a3266.8 billion in services<\/a> in 2020, while Switzerland exported \u00a389.6 billion.<\/p>\n The lead is particularly in the financial field<\/strong>, where technology applications have evolved considerably in recent years.<\/p>\n Having an up-to-date framework of rules will facilitate the work of companies, encourage their growth and stimulate the development of strategic partnerships.<\/p>\n Figures from the Department for International Trade<\/strong><\/a> (DIT) for 2021 show that 14% of UK exports in services to Switzerland were in the financial services sector.<\/p>\n <\/p>\n Find new clients, distributors and suppliers in 196 countries.<\/p>\n Request your free pre-analysis<\/a><\/p>\n Simplified customs procedures<\/strong> and reduced duties<\/strong> are among the main objectives of any free trade agreement.<\/p>\n The one between the UK and Switzerland will be no exception.<\/p>\n In fact, the Swiss Confederation absorbs 3.2% of UK-made exported goods<\/strong>; chemical industry<\/strong> in one of the manufacturing sectors in Great Britain that could benefit the most from the agreement.<\/p>\n In 2020, the UK exported \u00a3539 million worth of organic chemicals<\/strong> to Switzerland. Added to this are medicines and pharmaceuticals, totalling more than 677 million in 2021.<\/p>\n Another important export item is non-ferrous metals<\/strong>, which accounted for 11.7% of UK exports during the past 12 months.<\/p>\n What strategies should companies develop to take advantage of this scenario?<\/p>\n <\/p>\n Brexit<\/strong> marked a new season<\/strong> for the UK.<\/p>\n We are talking about an era where policies in international trade will increasingly play out on bilateral agreements<\/strong>.<\/p>\n In recent months, we have analysed the benefits of a partnership with the Gulf Cooperation Council<\/strong><\/a> and the recent free trade agreement between the UK and New Zealand<\/strong><\/a>.<\/p>\n The UK government’s strategy demonstrates the importance of a network of partner countries<\/strong> to negotiate specific agreements.<\/p>\n We can apply the same principle to business strategies<\/strong>.<\/p>\n How?<\/p>\n In the light of the agreements we have mentioned, market players will also have to diversify their network of business contacts<\/strong>.<\/p>\n Suppliers, customers, distributors, but also partners for joint ventures: knowing the best ones suited to your goals is essential.<\/p>\n![\"Exports](\"https:\/\/www.matchplat.com\/wp-content\/uploads\/2022\/05\/negotiations-about-contract-terms-concept-hand-pointing-at-document-closeup-1-scaled.jpg\" "\\"Matchplat\\"")
<\/p>\nThe need for an update<\/h2>\n
![\"The](\"https:\/\/www.matchplat.com\/wp-content\/uploads\/2022\/05\/pharmacy-industry-woman-worker-in-protective-clothing-operating-production-of-tablets-in-sterile-working-conditions-scaled.jpg\" "\\"Matchplat\\"")
<\/p>\nNot only services: the benefits for the other industries<\/h2>\n
Growing in the post-Brexit era: the importance of diversification<\/h2>\n