Switzerland Signs Digital Trade Deal with Singapore to Boost E-commerce
Switzerland, along with Iceland, Liechtenstein, and Norway, has signed a significant digital trade agreement with Singapore. This pact, set to bolster consumer confidence in digital commerce, is a major stride in strengthening trade ties between the two nations.
The agreement obliges signatories to maintain or introduce regulations for consumer protection and the prevention of unsolicited advertising messages, thereby boosting confidence in digital transactions.
Switzerland stands to gain considerably from this deal, as Singapore is a key partner in financial services, logistics, and IT services. Bilateral trade in goods and services amounted to around CHF5 billion in 2024. The agreement simplifies trade, increases legal certainty, and ensures the free flow of data while respecting data protection regulations.
Companies from EFTA states, including small and medium enterprises, will benefit from this Digital Economy Agreement. It opens up opportunities in digital trade sectors such as FinTech and artificial intelligence. Additionally, German companies with production in ASEAN or RCEP member countries, including Singapore, gain competitive advantages through reduced tariffs and trade barriers. EU industrial sectors also benefit from eased market access in Singapore and the region.
The digital trade agreement, which prohibits duties on electronic transmissions and protects source codes of computer programmes, will be put to consultation by the Federal Council in spring 2026 and then submitted to parliament for approval. This agreement aims to fortify trade frameworks between Switzerland and Singapore, paving the way for enhanced digital commerce and cooperation.
