MercoPress. South Atlantic News Agency

Swiss minister tells Peña her country interested in dealing with Mercosur

Switzerland “has many companies that are interested in investing worldwide,” Budlinger explained

Switzerland's Secretary of State for Economic Affairs Helen Budlinger told Paraguayan President Santiago Peña that her country was interested in expanding businesses with Asunción and with all of the Southern Common Market (Mercosur). She made those remarks Thursday as she welcomed Peña to the non-European Union nation which thus covets a separate Free Trade Agreement (FTA).

“President Peña's visit has been a very important event not only for Switzerland but also for the EFTA countries. We have met with the president and representatives of Norway, Iceland, and Liechtenstein because we are very interested in concluding a free trade agreement with Mercosur and the EFTA countries,” she explained.

The European Free Trade Association (EFTA) is made up of Iceland, Liechtenstein, Norway, and Switzerland. The bloc seeks an FTA with Mercosur so as not to be outpaced by the EU.

“After conversations we have had government to government, we have met with Swiss investors and companies that are already in Paraguay, and I must say that we have all been very impressed with the opportunities that Paraguay presents,” the Swiss official went on while praising Peña's ability to convey investment opportunities. He “positions his country very well,” Budlinger also noted. In addition, she highlighted the importance for Swiss companies of establishing economic and commercial relations with other countries.

Despite its size, Switzerland alone is the 20th largest market in the world, and “has many companies that are interested in investing worldwide,” the minister also pointed out.

The free trade agreement between Mercosur and EFTA was concluded in principle in 2019. For EFTA countries, Mercosur represents a market of 260 million consumers, while for Mercosur, EFTA offers a market of 14 million wealthy customers. The agreement seeks to reduce tariffs and improve access conditions for products from both regions, including agricultural and manufactured goods, the Paraguayan government explained.