Switzerland and EU Forge Historic Trading Partnership

Switzerland and the European Union have announced a new agreement to update their trading relationship, addressing Swiss concerns about migration. The agreement, hailed as historic, covers multiple areas including electricity, state aid, and transport, marking a significant overhaul of bilateral relations.

Switzerland and the European Union have successfully negotiated an updated trading agreement, addressing Swiss concerns about migration and setting the stage for the first major overhaul of their bilateral relations in years.

The announcement was made by Swiss President Viola Amherd and EU Commission President Ursula von der Leyen at a news conference in Bern, touting the deal as historic amid current geopolitical tensions.

This comprehensive arrangement, formed over nine months of rigorous talks, includes areas like electricity, state aid, and transport, and must still secure approval from both Swiss and European parliaments, potentially facing a public referendum in Switzerland.

(With inputs from agencies.)