The bilateral financial services agreement must also provide a clear process that must follow if recognition is withdrawn at some point. The security agreement would be in line with the Swiss government`s “Mind the Gap” strategy, which aims to ensure continued cooperation between Bern and London as soon as the UK leaves the EU altogether – which previously linked the two. The commitment signed between the United Kingdom and Switzerland is an example that paves the way for an ambitious agreement on financial services. Talks between the UK and Turkey on a trade deal have gained momentum since the EU ended for the UK at the end of 2019, the deal is not yet under target, but it is said that the two nations are close to reaching a deal. As part of its integration strategy, Switzerland has concluded at an early stage a series of new agreements with the United Kingdom in the areas of trade, migration, road and air transport and insurance. The aim of this strategy is to protect existing reciprocal rights and obligations as much as possible. Secondly, cooperation between Switzerland and the United Kingdom will be strengthened beyond current levels, in the interests of both parties (Mind the Gap). On that date, a commitment was signed, but no agreement has yet been reached. The following is a negotiation phase that must lead to a legally binding international agreement defining the above points. 1.
The forms of cooperation established in the previous chapter may be provided without prior request from another party. The Schengen Agreement, which includes the UK and most members of the European Union (EU), allows police to exchange information on suspicious persons and their movements throughout the bloc. 1. By mutual agreement between the authority of the applicant contracting party and the authority of the required contracting party, officials appointed by the authority of the applicant contracting party may participate in the investigations covered by the previous article. Their presence does not require the consent of the person to be examined or the economic operator. A results-based mutual recognition agreement will improve cooperation between the UK and Switzerland by reducing costs and barriers to cross-border trade in financial services. 1. By mutual agreement, the authorities of several contracting parties may create a joint investigation task force, based in a party.
The bilateral financial services agreement was also created in light of the recent COVID 19 pandemic. Given the economic challenges that are considered particularly important now that coronavirus restrictions are eased in Europe, such obligations are considered particularly important. The UK has also begun talks with Kenya on a post-Brexit trade deal.