The UAE and Switzerland
The UAE and Switzerland Establish a Joint Economic Committee to Boost Trade
The UAE Ministry of Foreign Trade and the Swiss Federal Department of Economic Affairs, Education and Research have agreed to establish a joint economic committee between the two countries. The aim is to enhance trade and investment cooperation, facilitate investment flows, and develop trade exchange.
A memorandum of understanding to this effect was signed by Reem bint Ibrahim Al Hashemi, UAE Minister of State for International Cooperation, and Guy Parmelin, President of the Swiss Confederation.
The joint economic committee will strengthen existing cooperation frameworks between the two countries. Its tasks include exploring mutual market access opportunities, addressing trade challenges related to bilateral relations, exchanging knowledge and expertise, discussing issues facing the business communities of both countries, examining international economic issues of common interest, and studying proposals aimed at enhancing trade and investment relations between the two nations.
The committee is scheduled to meet every two years, alternating between the UAE and Switzerland, with the option of holding meetings virtually when necessary.
Reem bint Ibrahim Al Hashemi stated that the UAE believes strong economic partnerships are built on shared values, mutual trust, and a long-term vision. She added that the UAE's relationship with Switzerland reflects a commitment to cooperation that transcends mere trade, contributing to stability, innovation, and sustainable growth in a rapidly changing global landscape.
She further noted that the Joint Economic Committee provides an important platform for deepening this partnership and creating opportunities that deliver long-term added value to both countries.
For his part, Dr. Thani bin Ahmed Al Zeyoudi, UAE Minister of Foreign Trade, affirmed that the establishment of the UAE-Swiss Economic Committee provides an effective platform for realizing shared aspirations aimed at elevating trade and investment ties to new levels that fulfill the developmental ambitions of both sides.
He said that the establishment of the Joint Economic Committee between the UAE and Switzerland is a significant milestone in the joint efforts to strengthen ties between the two economies and support mutual growth and development.
He pointed out that the two countries enjoy numerous areas of complementarity, from their roles in global gold markets to investments in advanced technologies and life sciences. The committee will provide an effective platform enabling the private sector in both countries to capitalize on these opportunities.
For his part, Guy Parmelin said that the establishment of the Joint Committee represents a significant new milestone in the distinguished economic relations between Switzerland and the UAE. He noted that the partnership between the two sides is based on strong ties in trade and investment, mutual trust, openness, and a shared commitment to rules-based free trade.
He added that the signing of the Memorandum of Understanding to establish the committee is a clear expression of the shared ambition to deepen, strengthen, and elevate this partnership to new levels. The establishment of the Joint Economic Committee reflects the strength of the long-standing and robust relations between the UAE and the Swiss Confederation.
In 2025, non-oil trade between the two countries reached approximately US$61 billion, representing a 130% increase compared to 2024. Switzerland is also a significant source of foreign direct investment (FDI) in the UAE, with investments exceeding US$16.6 billion, representing approximately 4% of the total FDI stock in the country.
Swiss companies are also active in the UAE across a wide range of sectors, including financial services, commodities trading, pharmaceuticals, engineering, and luxury goods. The two countries also collaborate in high-impact sectors such as alternative fuels, trade finance, biotechnology research, and medical technologies.
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