Advertisement
UK markets open in 4 hours 43 minutes
  • NIKKEI 225

    39,665.45
    +66.45 (+0.17%)
     
  • HANG SENG

    17,587.55
    -48.33 (-0.27%)
     
  • CRUDE OIL

    79.95
    +0.17 (+0.21%)
     
  • GOLD FUTURES

    2,403.40
    +8.70 (+0.36%)
     
  • DOW

    40,415.44
    +127.91 (+0.32%)
     
  • Bitcoin GBP

    52,057.51
    -433.29 (-0.83%)
     
  • CMC Crypto 200

    1,387.24
    -18.10 (-1.29%)
     
  • NASDAQ Composite

    18,007.57
    +280.63 (+1.58%)
     
  • UK FTSE All Share

    4,495.46
    +22.02 (+0.49%)
     

Swiss hope to secure new deal with EU this year, president says

Summit on Peace in Ukraine, in Switzerland

BERN (Reuters) - Switzerland is looking to wrap up a deal to update its relationship with the European Union this year, its president said on Tuesday, after previous attempts spanning years foundered over concerns about Swiss sovereignty.

Unrestricted access to the EU market is the cornerstone of the plan, which aims to update existing accords and conclude new sectoral agreements in areas including electricity and food safety, the Swiss government has said.

"The political goal is to conclude the negotiations this year," Swiss President Viola Amherd said at an event held by industry group Swissmem. "Our motto is as fast as possible, as slow as necessary."

Wealthy, neutral Switzerland has long had powerful internal resistance to closer integration with the EU, even as supporters of closer ties warn that the country cannot expect to benefit from the bloc without making concessions.

ADVERTISEMENT

Amherd said finding a deal quickly was in the interests of Switzerland, its economy, its industry and its research.

In March the Swiss government formally approved a negotiating mandate for talks with Brussels to modernize its relationship with the European Union after a previous bid unravelled in 2021.

Both sides had spent years working on a new treaty but critics argued that the accord excessively infringed on Swiss sovereignty, leading to the collapse of the plan.

(Reporting by Noele Illien; Editing by Ros Russell)