The UAE and Switzerland agree to launch Joint Economic Committee to Promote Bilateral Economic Cooperation

Abu Dhabi, UAE – 09 February, 2026: The UAE Ministry of Foreign Trade and the Federal Department of Economic Affairs, Education and Research of the Swiss Confederation agreed to establish a Joint Economic Committee (JEC) that will promote cooperation, facilitate investment and enhance trade flows between the countries. A Memorandum of Understanding (MoU) was signed by Her Excellency Reem bint Ebrahim Al Hashimy, Minister of State for International Cooperation, and His Excellency Guy Parmelin, President of the Swiss Confederation.

The JEC’s principal functions will be to build on these ties. The stated objectives are to explore opportunities for market access; address trade-related barriers or issues hindering bilateral economic relations; facilitate the sharing of knowledge and expertise; resolve business issues; discuss international economic issues of importance to either side; discuss proposals aimed at enhancing trade and investment relations between the two countries.

JEC meetings will be held every 24 months, alternating between the UAE and Switzerland, with options for virtual meetings.

Highlighting the significance of the agreement, Her Excellency Reem bint Ebrahim Al Hashimy, Minister of State for International Cooperation, said: “The United Arab Emirates believes that strong economic partnerships are built on shared values, mutual trust and a long-term vision. Our relationship with Switzerland reflects a commitment to collaboration that goes beyond trade, supporting stability, innovation and sustainable growth in a rapidly evolving global landscape. The Joint Economic Committee provides an important platform to deepen this partnership and to create opportunities that deliver lasting value for both countries.”

Building on this shared vision for deeper cooperation, His Excellency Dr. Thani bin Ahmed Al Zeyoudi, UAE Minister of Foreign Trade, further stated that the JEC will help align the two nations’ economic ambitions and deliver an important framework for cooperation. “This MoU is an important step for the UAE and the Swiss Federation as we seek to bring our economies closer together and support each other’s growth and development. We already enjoy many synergies, from our role as global gold markets to our investment into advanced technology and life sciences, and a Joint Economic Committee will provide a platform for our private sectors to expand on them. As we have proved through our Comprehensive Economic Partnership Agreement program, dialogue and collaboration are essential in today’s economy and we are excited to launch what will be a highly productive forum for us both.”

The establishment of the JEC reflects the strong, long-standing bonds that exist between the UAE and the Swiss Federation. In 2025, the two nations shared nearly US$61 billion in non-oil trade, an increase of 130% over 2024.

Reflecting this strength, His Excellency Guy Parmelin, President of the Swiss Confederation, said: “Today marks another important milestone in the excellent economic relations between Switzerland and the United Arab Emirates. Our partnership is built on strong trade and investment ties, mutual trust, openness and a shared commitment to free and rules-based trade. The signing of this Memorandum of Understanding on the establishment of a Joint Economic Committee is a clear expression of our joint ambition to deepen this partnership further.”

Switzerland is also a significant source of FDI, with more than US$16.6 billion committed to the country, which accounts for approximately 4% of total FDI in the UAE. Swiss companies are active across a range of sectors in the UAE, including finance, commodities trading, pharmaceuticals, engineering, and luxury goods retail. The two countries are also collaborating in high-impact sectors such as alternative fuels, trade finance, biotech and med-tech research.