EU Wants Swiss Green Light for Framework Deal by Late May, T-A Reports

(Bloomberg) -- Terms of Trade is a daily newsletter that untangles a world embroiled in trade wars. Sign up here

The European Union is pressuring Switzerland to signal it will agree to a new comprehensive treaty to govern relations between them by late May, Tages-Anzeiger reported.

The newspaper cited a recent meeting between representatives of the European Commission and permanent representatives of EU member states in its report on Saturday, which was based on unnamed sources. Bern and Brussels have been at odds for some time over a so-called framework deal, designed to streamline a large number of treaties governing topics as diverse as civil aviation and immigration.

The draft treaty has so far proved a non-starter with many in Switzerland, who fear it will erode the country’s sovereignty and put pressure on local wages.

Without a green light for the framework deal, an agreement facilitating Swiss producers’ sale of medical technology products in the EU will expire on May 26. Attendees at the meeting decided to make agreeing on a deal a precondition for the extension of the medical accord, the newspaper said.

Complicating matters further, the Swiss will hold a plebiscite on new immigration quotas for citizens of EU countries on May 17. A similar measure in 2014 caused a worsening in relations with Brussels.

©2020 Bloomberg L.P.

BQ Install

Bloomberg Quint

Add BloombergQuint App to Home screen.