To make it easier to import and export goods, Switzerland has entered into mutual recognition agreements (MRA) with its major trading partners: the 28 EU countries, as well as Iceland, Norway, and Liechtenstein. A further MRA exists between Switzerland and Canada. These MRAs make it possible to officially confirm that goods from Switzerland fulfill the product regulations of numerous trading partners. This in turn makes importing and exporting goods easier, which gives Swiss companies a significant advantage over competitors from third countries that do not have comparable agreements in place. This is hugely significant, particularly for industries with a sizeable high-tech component – such as the life sciences, MEM, and ICT sectors. After all, the more complex the products, the more demanding the conformity assessment procedures required to determine whether foreign products meet the regulations of the importing countries or not. An MRA offers concrete advantages, particularly in relation to trade with the EU countries: it enables Swiss companies to mark their products with the CE label, which is a requirement for export to the EU. Goods with the CE label can be directly sent to the EU market without any additional inspections.
Production and Trading Hubs in Switzerland
Swiss products stand for quality, precision, safety, and reliability – attributes that many foreign buyers are prepared to pay a premium for.