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Q&A with His Majesty’s Trade Commissioner for Europe, Chris Barton CMG
BSCC: What are the current trends in trade between the UK and Europe, and how does Switzerland factor into this dynamic?
CB: Europe remains by far the UK’s largest trading partner, with approximately 48% (£425bn) of our exports being sold here. The last few years have of course been challenging with the Brexit transition, Covid, Russia-Ukraine, cost of living issues and generally slow economic growth. Nevertheless in money terms our exports to Europe in 2023 were the highest ever, and in real terms they are almost fully recovered to 2018 levels. Switzerland’s story is particularly encouraging: over £55bn trade between us (up nearly 10% last year), UK exports nearly 60% higher than in 2019.
BSCC: How do you see the UK-Switzerland trade relationship evolving in the coming years, particularly in light of recent and coming bilateral agreements?
CB: I think there are multiple reasons to be positive. We’re starting from a great place, with a huge number of British and Swiss businesses already operating successfully in our respective markets. The recently agreed UK-Swiss Financial Services agreement, Recognition of Professional Qualifications agreement and the new trade deal we are negotiating should open up a broad range of new opportunities in the financial and wider services sector. Just the other day I hosted a lunch in Geneva with an impressive array of financial, legal, transport and trading services companies who spoke very positively about the prospects arising as a result of these. And importantly the deals show that we have governments on both sides who are committed to making trade easier and celebrating the role of business.
BSCC: How is the UK government supporting businesses in expanding their trade relationships with Switzerland and other European countries?
CB: We are taking a wide range of actions to support businesses in expanding UK-Swiss and wider UK-Europe trade. I often articulate these around 4 “As”. The first is access, i.e. opening up opportunities for our companies to trade and invest, for example in the agreements we’ve just discussed above. Second, we provide advice to companies, including through our on-line services (Export Support Service for UK exporters, and Expand Your Business for European investors, both on great.gov.uk), to UK businesses across the UK through our International Trade Advisor network, and to both UK exporters and Swiss buyers and investors through our excellent trade team within the British Embassy. Third we provide an advocacy function, making the case for UK business to export to Switzerland and for Swiss companies to buy from and invest in UK, including through events, marketing and one-to-one business engagement. Finally we provide assistance, helping British exporters and Swiss investors with the practicalities of growing in market e.g. through connecting with key purchasers and regulators and navigating barriers. And of course we work more generally to provide a highly attractive environment for Swiss investors in UK, with buckets of investment opportunities.
BSCC: Are there any particular areas or industries where you see opportunities for deeper collaboration and partnership between the UK and Switzerland?
CB: Yes, lots! The Financial Services and other agreements referred to above illustrate particular opportunities in the financial and wider services sector (which interestingly isn’t covered in our current bilateral trade deal, which is a key motive for us negotiating a new one). As two of the most innovative countries in the world, it is our people to people exchange that is one of our greatest strengths. It will be crucial for our FTA to deliver on mobility to ensure that our talented workforce can move smoothly between countries – whether that is through intra-corporate transfers or providing short term services. More widely we see important prospects to grow our trade in pharma & life-sciences, tech, energy and multiple other sectors. The breadth and complexity of our respective markets means there are opportunities in almost any area of business.
BSCC: What advice would you give to Swiss businesses looking to enter the UK market, and vice versa, based on your experience and insights into the current trade landscape?
CB: Four key messages. First, you’re absolutely right to be looking! The Swiss and British markets provide multiple opportunities for business to grow and a highly attractive environment in which to do so. Second, do your research. It’s not always simple to sell or set-up in a new market, and it’s important to check that your product is suitable for the local conditions and that you understand the rules and regulations involved. Third, find a local partner. This can be hugely helpful in finding your way and building trust. Fourth and finally, please use us! We’re here to help you if you are a British company wanting to export to Switzerland or a Swiss company wanting to buy from or invest in UK. Please go to great.gov.uk or contact the trade team in the British embassy if you’d like to find out more. And of course please engage with the British-Swiss Chamber of Commerce, with whom we are delighted to work in close partnership.
