Switzerland supports efforts to regulate free ports
Bern, 20.01.2017 - Today, Federal Councillor Ueli Maurer and France's Minister of the Economy and Finance, Michel Sapin, visited the Swiss free port in Embrach (ZH). During the visit, Federal Councillor Maurer showed his counterpart the benefits of these free ports for the economy.
Following their meeting in Davos, the French finance minister, Michel Sapin, and Federal Councillor Ueli Maurer travelled to Embrach to visit the free port there. During the visit, Minister Sapin was shown among other things how Switzerland can use its expertise within the framework of applicable law to protect high-end goods in free ports.
Switzerland is of global significance in the free trade of goods and has taken important steps in recent years to minimise the risks of abuse in free ports and to ensure the processes are in line with international standards. Switzerland was commended for this by both the Financial Action Task Force (FATF) and the World Customs Organization (WCO).
Internationally, there is also an interest in preventing the risks of money laundering, tax evasion and terrorist financing in free ports. Switzerland can contribute to efforts in this area thanks to its extensive experience. During the meeting in Embrach, Federal Councillor Ueli Maurer gave assurances that Switzerland will provide this support also within the framework of its membership of the FATF.
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Peter Minder, Head of FDF Communications
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Publisher
Federal Department of Finance
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