ABU DHABI, UAE – The United Arab Emirates (UAE) and Switzerland have taken a significant step towards strengthening their economic partnership, with a high-level UAE delegation visiting Bern and Basel this week. Led by Dr. Thani bin Ahmed Al Zeyoudi, the Minister of State for Foreign Trade, the delegation aimed to solidify existing ties and explore new avenues for collaboration, particularly in investment and innovation.
The visit comes on the heels of an impressive 41.2% surge in non-oil trade between the two nations in 2023, reaching a total value of US$22.3 billion. This growth underscores the increasing economic synergy between the UAE and Switzerland, further bolstered by their shared vision of sustainable economic development driven by knowledge and innovation.
Dr. Al Zeyoudi met with Helene Budliger Artieda, Switzerland’s State Secretary for Economic Affairs, to discuss ways to further enhance bilateral trade and investment. They also co-chaired the inaugural UAE-Swiss Economic Forum, which brought together leading companies and investors from both countries to identify potential partnerships and explore high-growth sectors.
“Switzerland is a valued trade and investment partner for the UAE,” Dr. Al Zeyoudi remarked. He highlighted Switzerland’s position as the leading European destination for the UAE’s non-oil exports and the fourth globally, with a value exceeding US$9.55 billion in 2023.
The Minister emphasized the UAE’s dynamic business environment and its strategic location as key advantages for Swiss companies seeking to expand into Asian and African markets. He also cited the recent addition of Swiss cybersecurity firm ZENDATA to the UAE’s NextGen FDI program as a testament to the growing economic ties.
The delegation’s itinerary included visits to renowned Swiss companies, including pharmaceutical giant Novartis and aircraft manufacturer Pilatus. Discussions focused on potential collaborations aligned with the UAE’s strategic initiatives, such as the newly established Emirates Drug Establishment.
Beyond government officials, the UAE delegation comprised representatives from diverse sectors, including banking, aviation, healthcare, and advanced technology, reflecting the UAE’s commitment to fostering collaboration across various industries.