Swiss parliamentarians look set to unilaterally remove import duties on almost all industrial goods in a move that could come into force as early as January next year.
In a move designed to simplify Swiss customs tariffs for traders, the decision also aims to help reduce the high price of goods for consumers.
The policy is subject to a final vote but looks likely to pass, resulting in the Swiss tariff code downsizing from 6,172 tariff lines to 4,592.
Opportunity for UK firms
Trade between the UK and Switzerland is currently worth just under £31bn a year with a £5.8bn trade surplus in favour of the UK, making it the UK’s 10th largest trading partner.
The Swiss market is a surprisingly large opportunity for UK businesses, and it’s something that Go Exporting in partnership with Prodigo are going to outline in an upcoming webinar discussing key market sectors and how to do business in the country.