2021 Foreign Economic Policy Report: Cooperation in economic development leads to improved resilience

Bern, 26.01.2022 - On 26 January, the Federal Council adopted the 2021 Foreign Economic Policy Report. Its Key Chapter shows how Switzerland's efforts in economic development cooperation are contributing to greater sustainability and crisis resilience, and are helping to limit the impact of the COVID-19 pandemic.

The 2021 Foreign Economic Policy Report provides an overview of developments in Switzerland's foreign economic policy over the reporting year. The report's Key Chapter focuses on the consequences of the COVID-19 pandemic for developing and newly industrialised countries, where in addition to its impact on health and society, the pandemic has had a severe effect on local economies. The pandemic has accentuated existing structural problems and increased pressure on public finances and the need for reform and funding. Economic recovery goes hand in hand with overcoming the COVID-19 pandemic. The situation in developing and newly industrialised countries remains tense; jobs are being lost and poverty is on the rise.

Until it has been brought under control on a global level, this crisis will not be over for Switzerland either. For Switzerland, it is important that partner countries such as South Africa or Colombia also recover as quickly as possible. In addition to combating the crisis, however, opportunities should be seized with a view to the 2030 Agenda's sustainability goals. Switzerland's activities in economic development cooperation, along with efforts being made by its bilateral and multilateral partners and other federal agencies, also contribute to achieving these goals. By promoting solid frameworks for economic policy and innovative initiatives in the private sector in its partner countries, Switzerland can help strengthen the latter’s resilience in these times of crisis.

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