The Swiss British Agreement: A Comprehensive Guide
Recently, the world has witnessed a significant shift in global politics, with the United Kingdom (UK) having left the European Union (EU). The move has affected the UK`s relationship with other countries, including Switzerland. As such, the two countries have been working towards concluding an agreement that will set rules for trade and other aspects of their relationship going forward. This agreement is formally known as the Swiss British Agreement. This article will provide you with a comprehensive guide on the Swiss British Agreement.
Background
Switzerland and the UK have maintained a healthy and vibrant relationship for many years. The two countries have robust economic ties, with the UK being the fifth-largest export market for Swiss products. Similarly, Switzerland is the UK`s seventh-largest non-EU trading partner.
Following the UK`s decision to leave the EU, the Swiss and British governments started negotiations towards a new agreement that would ensure continuity of their existing relationship. The talks started in 2018, with the aim of securing a comprehensive trade agreement covering key sectors such as trade, investment, and services.
Terms of the Agreement
The Swiss British Agreement covers a broad range of areas, including trade, financial services, air transport, and citizens` rights. Here are some of the key terms of the agreement.
Trade
The Swiss British Agreement provides for tariff-free trade of goods between the two countries. Switzerland and the UK have agreed to maintain the existing preferential trade arrangements that they had with each other as part of the EU. The agreement also covers rules of origin and customs, ensuring that the benefits of the agreement are only available to products that meet specific criteria.
Financial Services
Both Switzerland and the UK are major players in the financial services sector. The Swiss British Agreement provides for the continuation of existing arrangements between the two countries, ensuring that financial firms can continue to operate in each other`s markets without any disruption. It also covers the protection of intellectual property rights and investment.
Air Transport
The Swiss British Agreement provides for the continuation of air transport services between the two countries. It ensures that Swiss and British airlines can continue to offer direct flights and maintain routes between their respective countries. Additionally, it covers the issue of safety, security, and environmental standards.
Citizens` Rights
The Swiss British Agreement provides for the protection of citizens` rights, including the free movement of people between the two countries. Swiss and British citizens will continue to have the right to live and work in each other`s countries. It also ensures that social security rights are maintained.
Conclusion
The Swiss British Agreement is a comprehensive agreement that covers many aspects of the relationship between Switzerland and the UK. It provides certainty for businesses and citizens, ensuring that their existing rights and obligations are maintained. The agreement is expected to come into effect once the UK has completed its formalities, including ratification by the UK parliament.
As the world continues to evolve, the Swiss British Agreement sets an excellent example of how countries can maintain strong relationships despite political differences.
