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Trade Continuity and Future Ambition - The UK After Brexit
Director DIT for Switzerland and Liechtenstein, Noel McEvoy, argues in the Swiss Export Journal that the UK offers unique opportunities for export and investment for Swiss businesses. The trade agreement with Switzerland ensures that trade between our two countries can continue to thrive after Brexit.
Powered by new technologies, the way we live our lives is being transformed. Both the UK and Switzerland are extraordinarily well-placed to benefit from this new industrial revolution: we are open, enterprising economies, built on invention, innovation and competition. Our universities and research institutions are among the best in the world. We have a deserved reputation for being a dependable and confident place to do business, with high standards, respected institutions, and the reliable rule of law.
The UK and Switzerland are both each other’s 7th largest export market. We are a vital part of each other’s economies, with a reciprocal investment stock of almost £ 100 billion, and total trade in goods and services worth over £ 30 billion. We are closely connected through supply chains and transport links, and strong research partnerships. We are also closely connected on a human scale, with over 40,000 British nationals resident in Switzerland, and 14,000 Swiss nationals resident in the UK.
The UK and Switzerland have many industries which are worldleading; from financial services to advanced manufacturing, and from the life sciences to chemicals. We have the two largest financial services centres in Europe, London and Zurich, where tech companies specialising in legal, financial and regulatory technology are rapidly growing. Our Life Science hubs are unparalleled within Europe, with four of the global top ten pharmaceutical companies calling the UK or Switzerland home. And both the UK and Switzerland see Advanced Manufacturing as a strategic focus area, with both of our countries hosting a number of worldrenowned companies and world-class research institutions. UK strengths include marine engineering, space and satellites, defence, data analytics and cloud computing.
For a Swiss business looking to expand into a new market read more here gov.uk