"The clock is ticking for Switzerland," says Economics Minister Parmelin on Mercosur. The Council of States approves the free trade agreement
In the small chamber, the economic representatives are prevailing in the free trade agreement with South America. The farmers are supposed to receive 517 million francs. However, they fail with a request for even more money.
The Swiss Senate has approved a free trade agreement with Mercosur states, comprising Brazil, Argentina, Uruguay, and Paraguay. As part of the deal, Swiss farmers will receive 517 million francs in compensation for potential losses due to increased agricultural imports from South America. The agreement, backed by the government and business representatives, aims to eliminate most tariffs on Swiss exports to Mercosur countries, which currently stand at 4 billion francs annually.
Despite opposition from farmers and left-wing politicians, the Senate voted in favor of the agreement, with some arguing that it will lead to financial losses of up to 115 million francs per year for the agricultural sector.
Written by urgent.news from NZZ Wirtschaft's report — not a translation of it. Machine-written — may contain errors; check the original before relying on it.
