18.11.2008

Switzerland: Signing of a bilateral framework agreement with Venezuela

On 18 November 2008, Jean-Daniel Gerber, Director of the State Secretariat for Economic Affairs SECO, received Venezuela’s Vice Foreign Minister for Europe, Alejandro Fleming, for a working visit in Bern. Following the meeting, the State Secretary and the Vice Foreign Minister signed a framework agreement on cooperation between Switzerland and Venezuela.

The framework agreement will form the basis for the further development of bilateral economic relations and for the participation of Swiss firms in projects in Venezuela. It proposes the creation of a mixed committee to serve as a platform for bilateral dialogue on economic affairs. The aim of this committee is to promote cooperation between the two countries in areas relevant to business and to discuss and tackle jointly possible barriers to trade and investment with the involvement of the private sector.

During his visit to Switzerland on 18 November 2008, Vice Foreign Minister Fleming has also met with Ambassador Pierre Helg, Deputy Political Director at Federal Department of Foreign Affairs (FDFA) for political consultations.

During the first nine months of this year Switzerland exported goods to Venezuela valued at over CHF 200 million and imported goods from Venezuela to the value of CHF 53 million. At the end of 2006 the level of Swiss investment in Venezuela amounted to CHF 888 million. Swiss firms employ roughly 10,625 people in Venezuela.