The United Arab Emirates and Switzerland have agreed to establish a Joint Economic Committee (JEC) aimed at strengthening bilateral trade, facilitating investment, and expanding cooperation across priority sectors, marking a significant step in the evolution of their economic partnership.
The agreement was formalised through a Memorandum of Understanding signed by Reem bint Ebrahim Al Hashimy, Minister of State for International Cooperation, and Guy Parmelin, President of the Swiss Confederation.
The JEC will serve as a structured platform to explore market access opportunities, address trade-related barriers, share expertise, resolve business issues, and discuss international economic developments relevant to both nations. Meetings will be held every 24 months, alternating between the UAE and Switzerland, with the option for virtual sessions.
Al Hashimy said the committee reflects a shared commitment to long-term collaboration built on trust and common values, adding that the platform will help generate sustainable growth and innovation for both economies.
Dr. Thani bin Ahmed Al Zeyoudi, Minister of Foreign Trade, noted that the JEC will align the economic ambitions of both countries and create new avenues for private sector engagement. He highlighted existing synergies in areas such as global gold markets, advanced technology, and life sciences.
Parmelin described the agreement as a milestone in the countries’ strong economic relationship, underpinned by openness and a shared commitment to free and rules-based trade.
Bilateral economic ties are already robust. In 2025, non-oil trade between the two nations reached nearly US$61 billion, representing a 130 percent increase over 2024. Switzerland has committed more than US$16.6 billion in foreign direct investment to the UAE, accounting for around 4 percent of total FDI.
Swiss companies operate across finance, commodities trading, pharmaceuticals, engineering, and luxury retail in the UAE, while cooperation continues to expand in alternative fuels, trade finance, biotechnology, and med-tech research.
News Soruce: Emirates News Agency
