By Staff Reporter
The United Arab Emirates and Switzerland have agreed to establish a Joint Economic Committee (JEC) to enhance bilateral trade, promote investment flows, and expand collaboration across key strategic sectors, marking a new chapter in their growing 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 newly formed committee will act as a structured mechanism to improve market access, address trade barriers, exchange expertise, resolve commercial challenges, and coordinate on international economic developments affecting both countries. The JEC will convene every 24 months, alternating between the UAE and Switzerland, with provisions for virtual meetings when necessary.
Al Hashimy described the initiative as a reflection of the two nations’ shared commitment to long-term cooperation rooted in trust and common values, noting that the platform is designed to drive sustainable growth and innovation in both economies.
Dr. Thani bin Ahmed Al Zeyoudi, Minister of Foreign Trade, said the committee will help align economic priorities and open new opportunities for private sector collaboration. He highlighted strong existing synergies in global gold markets, advanced technologies, and life sciences.
President Parmelin called the agreement a milestone in the robust economic relationship between the two countries, built on openness and adherence to free, rules-based trade principles.
Economic ties between the UAE and Switzerland are already substantial. In 2025, non-oil trade between the two countries reached nearly US$61 billion — a 130 percent increase compared to 2024. Switzerland has invested over US$16.6 billion in the UAE, representing approximately 4 percent of total foreign direct investment in the country.
Swiss firms maintain a strong presence in the UAE across sectors including finance, commodities trading, pharmaceuticals, engineering, and luxury retail. Cooperation is also expanding in alternative fuels, trade finance, biotechnology, and medical technology research.
Source: Emirates News Agency
