Marking the Beginning of Trade Relations
Switzerland is regarded as a largely mountainous landlocked country found in west central Europe. It is the home for most UN headquarters thus making it boom in terms of world economy. The most popular agencies found in the country are the Economic and Social Council, World Health Organization and International Red Cross. As it embraces all these stations, its doors were open for larger opportunities in terms of international trade. Switzerland is a basic example of a country which had overcome the scarcity of natural resources. It based its economic prosperity by being inventive coupled with frugality and perseverance. It is now one of the most highly industrialized countries in the world. Since the 19th century, industrial engineering had made a substantial contribution to the modern Swiss economy. The products of Swiss labor were known throughout Europe. Printing and graphics, machine tooling, watch making and clock making were all practice in a lot of medieval Swiss cities. The best-known products from the food industry are cocoa powder, condensed milk, chocolates and cheese. These commodities were developed during a century-long effort to process milk into a nonperishable commodity. Swiss agriculture is characterized by a highly intensive production of mostly small and owner-operated farms. Two-thirds of the farm population raises cattle and the value of dairy and beef production such as milk, cheese, butter and meat amounts to more than half of the agricultural output. Agricultural activities extend to wine production, irrigated fruit and vegetable farming as well as apple pear and cherry growing, Switzerland's foreign trade relies heavily upon interchange of goods with its neighbors in the European Community. Its first years of trade with the United States were evidenced by the so-called US-Swiss Joint Economic Commission (JEC). This basically focused on issues such as anti-money laundering, counter terrorism and regulations on pharmaceutics. The negative trade balance in Switzerland is usually compensated by the net income from tourism, the insurance industry and international financial transactions where Zurich is a world center. Major Exports and Imports between the United States and Switzerland Switzerland's trade heavily depends upon exports of goods to the United States and the rest of Western Europe. Its leading exports are comprised of capital equipment, watches, optical instruments and chemical industries such as compounds, dyes and pharmaceuticals. Imports are evenly distributed among agricultural products, industrial raw materials, machinery and fuels. For the period ending August 2008, the US Census Bureau recorded exports from US to Switzerland at a total of $15.69 billion while the imports from Switzerland to US listed a total of $11.65 billion. The year 2007 was a fruitful year for the trade relations of these two nations as well. The following are the statistics which could be evidence to this fact:
In order to support the bilateral relations between these two countries, it was pleasing to note that they came up with several important treaties. These trade agreements were used to strengthen the bond as well as promote global trade in these two nations. Some of the most celebrated and remembered agreements were:
Trade Conflicts between the Two Nations Trade disputes could never be avoided especially that these two nations are both gaining high stature in world economy. Several relevant issues which had hindered economic prosperity were traced way back World War II. Here are some of the data regarding the trade disparity between United States and Switzerland:
All of the above-mentioned disparities occur in any trade agreement. Taking things on a more positive note, the United States and Switzerland have both learned their lessons from their erring issues. There was more transparency seen in the regulation standards after things were discussed closely by government officials. They may not have solved all the conflicts yet, but rest assured things will be well in the near future. These two strong nations have long been allies and were known to promote democracy anywhere. With their desire to uplift their standings in international trade, they focused more on improving both sides. Vested interests were left behind. The hope could be extended depending upon the people who will take a seat in both their governments. Whatever happens next should be something that will work for the advantage of the trade relations between both countries. US-Switzerland Trade References
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Note: Trade statistics, industry links, economic projections and global business resources on this page have been compiled from hundreds of trade related websites, government guides and resources on the Internet. We provide this valuable information for industrial suppliers, manufacturers, exporters and importers seeking to enter or expland business opportunities in Switzerland.
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