Switzerland Taps 270M-Person Mercosur Market to Cut Trade Risk
Speaking to foreign journalists at a briefing in Bern, Parmelin said: “Trade relationships are being challenged. Economic dependencies are increasingly being used as a tool of power,”
The president cautioned that the international economic order is “under pressure,” and argued that Switzerland’s dependence on overseas markets rules out any retreat into isolation.
“Our prosperity depends largely on international trade,” he said. “Therefore, isolationism is not an option for Switzerland. Nor is inaction. Diversification is our answer.”
Parmelin pointed to a string of recent diplomatic and commercial moves involving India, Thailand, Vietnam and China, among them an upgraded free trade agreement signed with Beijing last Friday. He also cited Switzerland’s deal with the South American trade bloc Mercosur, which opens access to a market of roughly 270 million people.
He stressed, however, that the push into new markets would not come at the cost of long-standing partners. Even as Bern opens new doors, ties with its main traditional markets in Europe and the US remain a “priority,” according to the president.
“We do not want to reduce our trade with Europe or the United States. We want to increase our trade with the entire world,” he said.
Friction with Washington over trade, Parmelin added, has shown that Switzerland must defend its own interests while keeping channels of dialogue open.
“Those who have several strong partners are less vulnerable,” he explained.
Citing the principles that “cooperation is better than confrontation” and “common rules are better than the law of the jungle,” the president said they explain why Bern stays committed to “open, fair, and rules-based” global trade.
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