The Forum came about as a result of closer ties during exploratory discussions regarding the feasibility of a free trade agreement. It is a significant step towards strengthening economic relations between the two countries and provides an opportunity to negotiate a free trade agreement at a later stage. Its creation was announced on 28 January 2006 at the Economic World Forum in Davos.

The Forum will act as a framework for launching negotations on subjects of common interest linked to trade and investment and will open the way to close cooperation in specific areas. It will also give Switzerland an opportunity at any time to raise issues linked to United States trade and investment policy. The Forum also gives an active role to the private sector, which will help to determine the matters to be dealt with and will organise events to strengthen links between the two partners.

Economic relations between Switzerland and the United States are very close and growing apace. In 2005, the United States consolidated its ranking as the second destination for Swiss exports with a growth of 12% while Swiss imports from the United States posted a 16.8% growth. As far as investments are concerned, Switzerland and the United States are very important partners (Swiss investments worth CHF 85 billion in the USA and US investments worth CHF 90 billion in Switzerland), with Switzerland occupying fifth place among foreign investors in the United States.

NOTE TO EDITORIAL STAFF
More detailed information will be available to the media following the signature of the agreement.

The Federal Council approves the US-Swiss Trade and Investment Cooperation Forum