The conclusion of the UK-Switzerland Free Trade Agreement is a major moment for the UK’s financial and related professional industry. As one of the most ambitious trade agreements the UK has secured to date, it creates new opportunities for businesses on both sides and demonstrates what can be achieved when government and industry work together towards a shared goal.
Through our Swiss Market Advisory Group, and in collaboration with our members, we have played an active role throughout the negotiations, bringing together industry expertise and helping ensure policy makers heard clear messages on the issues that matter most to internationally active firms.
The agreement builds on the successful momentum created by the Berne Financial Services Agreement, which came into force in January 2026. Together, the two agreements demonstrate a shared ambition to strengthen economic ties between two of Europe's leading services economies and create a pioneering second-country model for international economic cooperation.
The significance of the relationship should not be underestimated. Switzerland is one of the UK’s most important international partners by services trade, with UK-Swiss trade was worth £52.8 billion, with services accounting for £31.5 billion. Switzerland is the UK's seventh largest services trading partner and sixth largest services export market, underlining the importance of the relationship for both economies.[1]
This is a result worth celebrating. It reflects the strength of the UK-Swiss relationship, the willingness of both governments to listen to, and act on, practical industry input, and the value of our members speaking clearly and consistently about what a modern services trade agreement needs to deliver.
While we will review the final text in detail once published, the headline outcomes announced by the two parties suggest a highly ambitious agreement that delivers on many of the priorities industry has championed throughout the negotiations. Key outcomes include:
visa-free mobility for services professionals and more flexible intra-company transfers
ambitious digital trade provisions that protect cross-border data flows and prohibit unjustified data localisation requirements
the removal of certain business establishment barriers
stronger business certainty through locked-in market access commitments
enhanced regulatory cooperation and governance mechanisms to support deeper UK-Swiss services trade.
We are grateful to the members of our Swiss Market Advisory Group, led by Joe Cassidy, and to the UK negotiating team for their commitment and engagement throughout the negotiations. Their willingness to share expertise, challenge ideas and focus on practical outcomes has helped deliver a first in class agreement that supports growth, investment and competitiveness across the financial and related professional services industry.
[1] UK Government, 'Switzerland - UK Trade and Investment Factsheet', (June 2026), available at: https://assets.publishing.service.gov.uk/media/6a35205225c5199bda11785c/switzerland-trade-and-investment-factsheet-2026-06-23.pdf
