The trade agreement corresponds to the vast majority of trade-related rights and obligations that apply under bilateral agreements between Switzerland and the EU. These include the free trade agreement, the Public Procurement Convention, the Anti-Fraud Convention, the Mutual Recognition Agreement on Compliance Assessment, the Agricultural Agreement and the Customs Facilitation and Security Agreement. Some of these agreements between Switzerland and the EU focus (to varying degrees) on harmonising or recognising the equivalence of the rules between Switzerland and the EU (agreement on rights facilitation and security, parts of the agricultural agreement, including the annex „veterinary agreement“ and parts of the agreement on mutual recognition in the assessment of compliance) and cannot be fully replicated at this stage. Some 32 billion pounds a year between the UK and Switzerland, with 15,000 British exporters fighting with the country. The United Kingdom has signed a transport agreement with Switzerland. The agreement guarantees that UK carriers will be able to continue to operate in Switzerland with a EU licence as soon as the agreement comes into force. In order to ensure that the reciprocal rights and obligations in Switzerland`s relations with the United Kingdom apply as far as possible beyond this transitional period, Switzerland has agreements with the United Kingdom in certain areas, including trade. The trade agreement will enter into force as soon as the bilateral agreements between Switzerland and the EU are no longer effective for relations between Switzerland and the United Kingdom. Details have been added on how this agreement is different from the current EU agreement. The United Kingdom is an important economic partner for Switzerland. At present, relations between Switzerland and the United Kingdom are mainly governed by bilateral agreements with the European Union (EU). Under the withdrawal agreement between the UK and the EU, there is a transitional period that applies between the withdrawal date and at least 31 December 2020. During this transition period, the UK will continue to be part of the European internal market and customs union.
The terms of the bilateral agreements between Switzerland and the EU continue to apply to relations between Switzerland and the United Kingdom.