Incoming Swiss president calls post-Brexit deal 'good news for whole world

Incoming Swiss president Guy Parmelin said on Sunday that post-Brexit trade deal struck between UK and the European Union (EU) was "good news" for the entire world. Switzerland itself is not a member of EU but is a banking powerhouse and has a relationship that guarantees market access. Parmelin is currently economy minister and set to take over the annually rotating presidency on Friday.

"It is good news for the whole world that an agreement has been reached. For Switzerland too," he told the Sonntags Zeitung newspaper.

UK and European Union were able to strike a post-Brexit deal on December 24 after 10 months of heavy negotiation. The deal will soften economic shock of UK exiting European common market on December 31

Parmelin did not comment on what the deal might mean for Switzerland's own framework agreement negotiations with the EU.

"We are now waiting for the text and will analyse the whole situation," he said.

Experts believe that the Swiss government is now coming under strong pressure to negotiate a better agreement with Brussels, the SZ reported.

After turning down EU membership in 1992, the Swiss voted in 2000 for a range of bilateral accords with the bloc.

Brussels has made no secret of its growing impatience to pin down a "framework accord" to pull together various bilateral agreements touching on access to the single market and fine-tuning applicable Swiss and EU laws.

Since 2008, the EU has insisted Switzerland must sign a framework agreement before concluding any new bilateral deals with the bloc.

Parmelin had to go into quarantine before Christmas after visiting London to sign an agreement which secures reciprocal, facilitated market access for service providers from Switzerland and Britain from January.
Parmelin takes over as president from Simonetta Sommaruga on Friday.

(With AFP inputs)