You can continue to use EU materials or processing in your exports to Switzerland. The United Kingdom and Switzerland must have met the requirements of the origin protocol. They must also ensure that the work or transformation carried out in the United Kingdom goes beyond the minimum operations set out in the agreement and that the other relevant conditions are met. Given that there are still many opportunities for liberalization in the financial services sector, it is particularly gratifying, from the point of view of the Swiss banking sector, that both countries have identified the financial services sector as a relevant area for strengthening cooperation beyond the status quo after the end of the transition period. In this context, the SBA and its member banks are working to open up markets widely on the basis of mutual recognition of financial market rules and supervisory frameworks. The SBA is therefore pleased that this approach has been incorporated into the Memorandum of Understanding on deepening future relations in the financial sector, signed by Switzerland and the United Kingdom on 30 June 2020. It sets the target for ambitious liberalization and extension of reciprocal market access in the banking, asset management, insurance and capital markets sectors (including financial market infrastructure). The “wholesale trade – demanding customers” segments mentioned in the declaration are very important for Swiss banks and an agreement would allow them to be served more easily and as needed. Unless additional bilateral agreement is reached between Switzerland and the United Kingdom, British nationals wishing to resettle in Switzerland after the end of the application of the AFMP must comply with the conditions set out in the Foreign Nationals and Integration Act (FNIA). They are treated as third-country nationals.
In particular, all applications of British nationals in Switzerland must first take into account the priority of Swiss nationals and EU nationals and respect all conditions of employment and remuneration. The bilateral financial services agreement was also created in light of the recent COVID 19 pandemic. Given the economic challenges that are considered particularly important now that coronavirus restrictions are eased in Europe, such obligations are considered particularly important. Switzerland and the United Kingdom have signed an agreement in London on maintaining social security rights in the event of a Non-Brexit Deal. The text is in line with the Swiss government`s insemination strategy. The commitment signed between the United Kingdom and Switzerland is an example that paves the way for an ambitious agreement on financial services. Talks between the UK and Turkey on a trade deal have gained momentum since the EU ended for the UK at the end of 2019, the deal is not yet under target, but it is said that the two nations are close to reaching a deal. The tariff quotas in the agreement have been specially adapted in the United Kingdom. The joint declaration signed today by Rishi Sunak and Ueli Maurer, head of Switzerland`s Federal Department of Finance, is the most ambitious commitment of two countries to develop an international agreement on financial services. It marks the UK`s ambition to continue to consolidate its role as an international financial centre, even after leaving the EU, with the highest regulatory standards and openness to the world.
If it were to enter into force, the transitional agreement would be time-limited and, in principle, applicable until December 31, 2020, the government said in a statement on Thursday. An agreement should be reached after a period of negotiation. This will be completed by the end of the Brexit transition period (31 December 2020). Updated certificates of origin will be available as soon as your regular supplier`s agreement comes into effect, for example. B chambers of commerce.