The Federal Council of Switzerland has submitted a draft resolution to Parliament regarding the ratification of the updated Free Trade Agreement between the states of the European Free Trade Association and Ukraine. This step reaffirms Switzerland’s solidarity with Ukraine during a challenging period and also enhances the competitiveness of Swiss companies in the Ukrainian market.
This is reported by Business • Media
Key Changes in the Agreement and New Opportunities for Business
The updated agreement includes new sections concerning e-commerce, sustainable development, support for small and medium-sized enterprises, and technical cooperation. One of the most significant changes is the elimination of tariffs on nearly all Swiss goods – 99.9% of products will become duty-free for the Ukrainian market.
The Federal Council emphasized that Switzerland continues to support Ukraine through various development programs, humanitarian initiatives, and reconstruction projects. Among these is a separate agreement on the reconstruction of Ukraine, which is currently in the consultation phase.
Next Steps and Expectations for Ratification
The consideration of the updated agreement by the Swiss Parliament is scheduled for the spring or summer session of 2026. If approved, the document could come into effect at the beginning of 2027.
“With this agreement, Switzerland demonstrates solidarity with Ukraine during a critical time while simultaneously strengthening its competitiveness in the Ukrainian market.”
It is worth noting that in April, Ukraine signed an updated agreement with the countries of the European Free Trade Association (Switzerland, Norway, Iceland, and Liechtenstein), which simplifies trade procedures between the states and opens new opportunities for businesses on both sides.