The UK's services trade with Switzerland is set to receive a significant boost, with a newly announced Free Trade Agreement (FTA) expected to inject £5.2 billion annually into exports in the long term. This landmark deal, agreed on 13 July 2026, will strengthen a vital sector that accounts for 81% of the UK's economic output and is crucial to sustaining growth in an increasingly competitive global market.
Switzerland remains the UK's sixth-largest services export market, with bilateral trade exceeding £30 billion in 2025. The new FTA aims to capitalise on this relationship by streamlining processes for digital payments, reducing paperwork, and removing barriers that previously forced some back-office functions to be located in Switzerland.
Small businesses, scaling tech firms, and established sectors such as finance, professional services, life sciences, creative industries, and digital technologies are expected to particularly benefit from the agreement. Furthermore, UK citizens will enjoy enhanced travel and connectivity benefits, including the elimination of mobile roaming charges for holidaymakers and business travellers, allowing them to use their phones in Switzerland without incurring extra costs.
The deal also eases processes for UK professionals looking to work in Switzerland, introducing visa-free travel for up to 90 days a year for services professionals and enabling UK businesses to transfer employees to Switzerland for up to five years. Crucially, these transfers will not be subject to stringent economic needs tests, making it easier for UK graduates in fields like finance, insurance, and consultancy to secure Swiss work permits.
Prime Minister Keir Starmer described the agreement as 'making life easier and creating more opportunities' across the UK, highlighting its potential to help British firms sell their expertise in one of Europe's most important markets. Trade Secretary Peter Kyle echoed this sentiment, labelling it 'the most significant services trade deal the UK has ever negotiated', following recent agreements with the US, Europe, the Gulf, South Korea, and India.
The government believes this deal reinforces the UK's status as a global services superpower and will unlock new opportunities in key Industrial Strategy sectors. The agreement is expected to have a profound impact on the UK economy, injecting £5.2 billion annually into exports in the long term, demonstrating the importance of continued efforts to strengthen trade relationships with major markets like Switzerland.