As financial firms increase pressure, calls for a Swiss-UK trade agreement grow

A group of financial giants pressed the government to sign a “pioneering” trade agreement with Switzerland today to improve liquidity flows between the two financial centres.

Trade between the UK and Switzerland was worth £38.4 billion last year, but companies including Credit Suisse, Deloitte, HSBC and UBS are now calling on ministers to go ahead with a formal agreement to boost the flow of capital and services between the two countries. Countries.

Chris Hayward from the City of London Foundation was the head of policy and invited the companies to the meeting. He stated that the enhanced Free Trade Agreement as well as the Mutual Recognition Agreement in Financial Services was a “top priority” for the sector.

Today, top Swiss officials joined the chorus, with Jose Disselhoff, president, SIX Swiss Exchange, echoing the calls. city ​​in the morningA formal trade agreement on financial services between the UK & Switzerland that makes “workable sense”.

He stated that “Both countries have a reputation for being global financial centres, with a shared cultural dedication to high regulatory standards and market integrity, investor protection, and market integrity.”

“Our recent study of the future of finance across 300 international financial institutions found that having proven capabilities throughout times of change is key to ensuring continuous innovation.”

Today’s International Trade Week will see officials from both governments meet to discuss the details of today’s deal.

Matthew Davies, the chief negotiator in the UK-Switzerland Enhanced Trade Agreement (UK-Switzerland Enhanced Trade Agreement), will discuss progress with Thomas Zimmermann, his Swiss counterpart.

Zimmerman stated that the service sector of both countries would be “benefitted a lot” by an “ambitious, free trade agreement that includes services.”

“We look forward for deepening the dialog with our UK partners on this area,” he said.