In the News

EU Import Prices May Drop

The Swiss government wants to lower the prices of goods arriving in the country from the European Union by eliminating technical barriers to trade.

In June 2008 it asked parliament to consider introducing the "Cassis-de-Dijon" Principle, resulting in possible savings of more that 2 billion CHF per year ($1.96 billion), according to the State Secretariat for Economic Affairs (SECO).

Currently, only 48 per cent of goods imported from the EU face no technical hurdles. If new federal legislation is adopted by parliament, that share will increase to more than 80 per cent. SECO economists reckon that Gross Domestic Product would increase by half a point if the reform is adopted. Switzerland's GDP in 2007 was 478 billion CHF.

Reactions to the reforms have generally been positive from all sides, so it is quite likely to pass.