Guy Parmelin signs new agreement with Singapore
Keystone-SDA
Switzerland is among the EFTA states ( also Iceland, Liechtenstein and Norway) that have signed an agreement on digital trade with Singapore.
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Swiss Economics Minister Guy Parmelin and representatives of the other EFTA states signed the deal with Singapore’s Minister for Trade Relations, Grace Fu, in Bern.
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The agreement aims to strengthen the framework conditions for trade between the Swiss Confederation and its Asian partner, the Federal Department of Economic Affairs, Education and Research (EAER) said.
Similar arrangements have already been agreed with nine partners in free trade agreements in the past, most recently with Chile. The agreement, once finalised, will “comprehensively cover all trade with the South-East Asian city-state”, the DEFR said.
According to the government, the agreement simplifies trade in goods and services and increases legal certainty. In particular, it guarantees the free flow of data in compliance with data protection regulations, prohibits the imposition of duties on electronic transmissions and provides for the protection of source codes of computer programmes.
It also strengthens consumer confidence in digital commerce by obliging the parties to maintain or, if they do not exist, to introduce regulations for consumer protection and the prevention of unsolicited advertising messages.
Singapore is an important partner for Switzerland in the financial services sector, but also in logistics and IT services. In 2024, bilateral trade in goods and services between the two countries amounted to around CHF5 billion.
The digital trade agreement will be put to consultation by the Federal Council in spring 2026, after which it will be submitted to parliament for approval.
Translated from Italian with DeepL/mga
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