Christian Kolbe and Nicola Imfeld
On the first day after the negotiations on a framework agreement with the EU were broken off, the Swiss economy was divided. The financial center is calm. The banks can live with it, the insurance industry even attests to the Federal Council “leadership in a difficult starting position”. In other industries, however, worry lines are growing.
Without a framework agreement, the Machine industry new trade barriers. This worsens the competitiveness of Swiss industrial companies. That is why the Federal Council should now limit the damage and initiate a reform program, demand the mechanical engineering. Free trade agreements could also help.
The Medical technology industry be the first to feel the consequences of the crash. The medtech industry lost the previously barrier-free access to the EU internal market on Wednesday and is now recognized as a “third country”. This means that from now on, Swiss companies must meet more stringent requirements for the export of their medical products to the EU.
Increased shortage of skilled workers
For the Pharmaceutical industry the EU is a key trading partner. Now there is a risk of additional costs due to double certifications and inspections as well as a significant loss of the attractiveness of the location. In the worst case, the flow of qualified workers could dry up and the risk of exclusion from lucrative research programs. Corona in particular has shown how important cross-border research and collaboration can be.
The Care industry feels additional uncertainty. And that during a pandemic, which in itself is an exceptional situation. The biggest problem: The shortage of skilled workers could worsen if the nursing staff from the EU were to stay away in the future.
Without regulated cooperation from Electricity industry the EU threatens serious systemic risks and high costs for Swiss electricity customers. In extreme cases, blackouts could accumulate. An electricity agreement is required, otherwise negative consequences for Switzerland and the surrounding countries are not foreseeable, especially for Italy.