The sixth round of negotiations on an enhanced Free Trade Agreement (FTA) between the United Kingdom and Switzerland concluded in Switzerland on 10th March 2025, marking a significant step towards strengthening economic ties between the two nations.
With economic growth at the heart of the UK government’s agenda, an upgraded trade pact promises to unlock new opportunities for British businesses and professionals.
At the centre of discussions is the UK’s ambition to secure improved market access for its service suppliers, ensuring that data and innovation flow seamlessly between two of the world’s foremost service-driven economies. The agreement also aims to provide long-term assurances regarding UK business travel to Switzerland, a key consideration for British professionals operating across sectors such as finance, law, and consultancy.
Trade between the UK and Switzerland already underpins thousands of jobs and generates significant revenue. The existing trading relationship supports approximately 130,000 services jobs and facilitates over £17 billion in services exports annually. Notably, Scotland and the North West of England alone contribute over £700 million to this figure. An enhanced FTA, therefore, represents not just a strengthening of diplomatic relations but a direct boost to UK businesses and workers.
During the latest round of talks, negotiators made substantial headway, particularly in financial services. Both sides are reportedly working towards what could be the most comprehensive financial services chapter ever agreed by either country in a trade deal. Given London and Zurich’s status as global financial hubs, an agreement in this area could bolster cooperation, reduce barriers, and set a new benchmark for international financial trade agreements.
Digital trade also featured prominently in discussions, with negotiators delving into issues such as data flows, source code protections, and cryptography. Ensuring the free movement of data while maintaining cybersecurity and intellectual property protections is seen as critical to fostering innovation and business continuity between the two nations.
In a positive development, several chapters were provisionally closed during this round of negotiations, including those relating to customs and trade facilitation, as well as transparency. These early agreements set a strong foundation for the broader deal and demonstrate a shared commitment to reducing trade friction and enhancing regulatory clarity.
Despite the push for an ambitious deal, UK ministers have been clear that any agreement must align with national interests and uphold high standards across key sectors. The government has reaffirmed its commitment to maintaining protections for the National Health Service (NHS) and safeguarding consumer and business standards.
The UK’s trade strategy has increasingly centred on forging modern, high-value agreements that prioritise services, investment, and digital trade—sectors that are not adequately covered under the existing UK-Swiss FTA. As the UK continues to recalibrate its global trade relationships post-Brexit, a successful deal with Switzerland would send a strong signal of Britain’s ability to secure world-leading agreements beyond the European Union.
With the momentum building, attention now turns to the next round of negotiations, set to take place in the UK in early summer 2025. While challenges remain, there is growing optimism that a finalised agreement could be reached within the year, delivering tangible benefits for businesses, workers, and investors on both sides.
A strengthened UK-Swiss trade deal would not only reinforce Britain’s status as a global services powerhouse but also provide businesses with the certainty and access they need to thrive in a rapidly evolving economic landscape. As talks progress, stakeholders across finance, technology, and professional services will be watching closely, eager to see how the final deal shapes the future of UK-Swiss trade.
