UK and Switzerland strike a deal on post-Brexit trade
- Agreement will only be applied if London fails to make a deal with Brussels by the time Britain leaves the EU on March 29
Britain and Switzerland signed a deal on Monday to preserve trade relations between the two countries even if London leaves the European Union without a deal with Brussels.
British international trade secretary Liam Fox and Swiss Economy Minister Guy Parmelin signed the bilateral trade agreement in Bern on Monday.
“This new agreement lays the foundations for the two parties to continue their sound economic and trade relations once the United Kingdom has left the EU,” the Swiss government said in a statement.
Switzerland is not a member of the EU, but its relations with Britain are based on a long line of bilateral agreements between Bern and the bloc.
Should the United Kingdom leave the EU on 29 March without a deal, the agreement will come into effect
If London and Brussels manage to reach a deal for an orderly Brexit, the bilateral agreements between Switzerland and the EU will continue to apply to Britain until the end of the transition period, the statement said.