The UAE and Switzerland have reached an agreement for the establishment of a Joint Economic Committee (JEC) to strengthen bilateral economic co-operation, promote investment and boost trade flows.
The agreement was formalised through a MoU signed by UAE Minister of State for International Cooperation Reem Al Hashimy and Swiss President Guy Parmelin.
The committee will focus on improving market access, addressing trade-related barriers, facilitating knowledge-sharing and resolving business issues.
The agreement comes at a time when the non-oil trade between the UAE and Switzerland stands at $61 billion as of 2025, up 130% from the previous year.
As per the MoU, the meetings of the JEC will be held every two years, alternating between the UAE and Switzerland, with the option of virtual sessions.
Highlighting the significance of the agreement, Al Hashimy said the UAE believes that strong economic partnerships are built on shared values, mutual trust and a long-term vision.
"Our relationship with Switzerland reflects a commitment to collaboration that goes beyond trade, supporting stability, innovation and sustainable growth in a rapidly evolving global landscape. The JEC provides an important platform to deepen this partnership and to create opportunities that deliver lasting value for both countries," she added.
On the deal, Parmelin said the agreement marked another important milestone in bilateral relations, adding that the partnership was based on strong trade and investment ties and a shared commitment to free and rules-based trade.
The JEC will serve as a forum to discuss international economic developments and proposals to deepen trade and investment ties.
Switzerland is a major source of foreign direct investment in the UAE, with more than $16.6 billion committed, accounting for around 4% of total FDI, as per official UAE data.
Swiss companies operate across sectors including finance, commodities trading, pharmaceuticals, engineering and luxury retail in the emirates, while the two countries also co-operate in areas such as alternative fuels, trade finance, biotechnology and medical technology.-TradeArabia News Service
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