What happened after Brexit?
With the end of the Brexit transition period, the agreements between Switzerland and the EU were no longer applicable in relation to the United Kingdom. Therefore, Switzerland had to secure the existing economic relations with the UK bilaterally. The aim was to avoid a disruption in economic relations and to ensure as much continuity as possible for businesses.
What does “Mind the Gap” mean?
“Mind the Gap” was the Swiss approach to closing or bridging the gap in bilateral relations with the United Kingdom created by Brexit. The focus was on taking over the essential existing rights and obligations as far as possible, so that companies would not end up in a state of legal uncertainty. The primary aim was continuity, not fundamental substantive development. The modernized agreement now goes beyond this continuity assurance.
What actual improvements will Swiss companies see?
For Swiss companies, clearer, more modern and more reliable framework conditions for business with the United Kingdom are particularly relevant. The proposals include improved conditions for cross-border provision of services, contractually more reliable and more targeted rules on the mobility of service providers, more modern rules for digital business and an enhanced protection of intellectual property. In addition, improvements are planned for investments, customs procedures and certain aspects of trade in goods.