Tag: switzerland

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Switzerland to host Ukraine peace conference in June

By organising this conference, Switzerland is making another important contribution to support a just and lasting peace in Ukraine and greater security and stability in Europe and the world…reports Asian Lite News

Swiss President and Foreign Minister Ignazio Cassis said on Thursday that Switzerland will host a high-level international conference in the month of June with more than 100 countries invited to help chart a path towards peace in Ukraine after more than two years of war.

In an official post on X, Ignazio Cassis said, “Switzerland will host a High-Level Conference on Peace in Ukraine.”

“Peace is at the heart of the Swiss spirit. Its humanitarian tradition plays a key role in this quest. Peace is not an abstraction, but a call to action that reflects our values and our responsibilities on the world stage,” Ignazio Cassis added.

Further, the Federal Department of Foreign Affairs said in the press release that, Switzerland is organising a high-level conference on peace in Ukraine, which is expected to take place in June 2024 at the Burgenstock.

The aim of the heads of state and government meetings is to develop a common understanding of a path towards a just and lasting peace in Ukraine.

“The conference aims to provide a platform for a high-level dialogue on ways to reach a comprehensive, just and lasting peace for Ukraine based on international law and the UN Charter. It aims to create a common understanding of the framework conducive to this goal and a concrete roadmap for the peace process,” the release added.

By organising this conference, Switzerland is making another important contribution to support a just and lasting peace in Ukraine and greater security and stability in Europe and the world.

According to the Press release, Switzerland is actively involved in the search for solutions and as with (Ukraine Recovery Conference 2022) URC2022 is helping to shape a sustainable future for Ukraine.

Meanwhile, during President Zelenskyy’s visit to Bern on January 15, 2024, Switzerland and Ukraine discussed the next steps towards a comprehensive, just and lasting peace in Ukraine.

At Ukraine’s request, Switzerland agreed to host a high-level conference. Switzerland regularly hosts negotiations or acts as a mediator for talks and meetings. (ANI)

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-Top News UK News

UK, Switzerland ink post-Brexit deal

Hunt was in Bern, Switzerland, to sign the agreement with his Swiss counterpart, Karin Keller-Sutter, who said it would “boost the international competitiveness” of both markets over the long term…reports Asian Lite News

The UK and Switzerland on Thursday signed a post-Brexit financial services deal designed to bring two of Europe’s largest banking centers closer together.

British Finance Minister Jeremy Hunt said that the “first-of-its-kind” deal was a win for post-Brexit Britain that “wouldn’t have been possible to sign” inside the European Union.

He added that the mutual recognition accord, dubbed the Bern Financial Services Agreement, would provide a “blueprint” for future deals with other countries.

“This is a new type of trade agreement that we can use as a model for future agreements that we have with other markets as well,” Hunt said during a news conference announcing the deal.

Hunt was in Bern, Switzerland, to sign the agreement with his Swiss counterpart, Karin Keller-Sutter, who said it would “boost the international competitiveness” of both markets over the long term.

The deal, which follows more than two years of negotiations, aims to streamline business ties between financial firms and wealthy individuals in the two markets, and improve cross-border access to a range of financial services sold by banks, insurers and asset managers.

It follows a so-called deference model, which allows firms to operate in the partner country while following just one set of regulations and without necessarily having to open a local base. As such, financial services providers and insurers will be able to offer certain cross-border activities in both Switzerland and the U.K.

The terms will also allow Swiss firms to serve wealthy individuals within the U.K., either locally or cross-border, replicating privileges currently available to British firms in Switzerland. Meanwhile, U.K. advisors will be permitted to “temporarily serve” wealthy clients locally in Switzerland without registering in the country.

Hunt described the plans as a “light-touch, progressive, future-leaning way of opening access,” which would provide a significant boost for the City of London. Hunt added that the deal could potentially be extended to include retail and sustainable finance in the future.

The deal will need to be approved by parliaments in both countries before entering into force next year. However, some commentators were optimistic that it would mark an improvement on the equivalence framework Britain had with Switzerland while in the European Union.

David Henig, U.K. director at independent think tank the European Centre for International Political Economy, said the deal was “broadly good news” which would leverage Britain’s heft in financial services.

It comes as Britain aims to reposition itself post-Brexit and Switzerland seeks to shake off the reputational hit to its financial services sector following the collapse of Credit Suisse in March.

Prime Minister Rishi Sunak initially launched talks with Switzerland in 2020, when he was finance minister, claiming that the accord would demonstrate the countries’ shared vision of an “open, global and free” economy.

The current Conservative government in Britain has long positioned signing new trade deals as a key benefit of Brexit. In June, Britain signed a deal to join an 11-nation Asia-Pacific free trade bloc that includes Australia, Singapore, Japan and Canada, marking its third new trade deal since formally exiting the bloc on Jan. 31, 2020.

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-Top News Environment Europe

Switzerland takes bold steps to combat climate change

Switzerland is grappling with many climate change consequences, notably the alarming glacier melt and dwindling snowfall. This decline in glacier volume, over 6% in the past year, has raised significant concerns…reports Asian Lite News

Switzerland is making significant strides in addressing the pressing issue of climate change, recognising the substantial risks it has brought in recent years.

These risks encompass not only threats to public health due to soaring temperatures but also its far-reaching consequences on diverse communities and the environment, marked by unprecedented glacier melting in the Swiss Alps, which has rendered the Alpine slopes increasingly unstable.

In June 2023, Switzerland approved a groundbreaking law to achieve carbon neutrality by 2050. This law aligns with Switzerland’s ongoing commitment to embracing eco-friendly energy alternatives, thereby supporting various sectors to actively participate in measures and initiatives aimed at combatting the challenges posed by climate change.

The new legislation is pivotal, not solely for ensuring energy security but also for addressing the climate change repercussions, magnified by the dramatic glacier melt observed in Switzerland, as one-third of glacier ice volume was lost between 2001 and 2022.

The law entails a financial commitment of two billion Swiss francs over a decade to incentivise replacing fossil fuel-based heating systems with environmentally friendly alternatives. Additionally, it encourages innovation in environmental conservation within the business sector.

Switzerland is grappling with many climate change consequences, notably the alarming glacier melt and dwindling snowfall. This decline in glacier volume, over 6% in the past year, has raised significant concerns.

Despite some experts characterising the diminishing glaciers as catastrophic, particularly in 2022, Swiss hydrologists view the situation with a nuanced perspective. They highlight the potential positive aspects of the melting ice, particularly in the drought conditions prevailing in Europe. The melting ice could potentially compensate for reduced rainfall and assist in replenishing hydroelectric dam reservoirs. Notably, hydroelectric power stations contribute to over 60% of Switzerland’s electricity production, while the remainder relies on imported oil, gas, and nuclear energy.

In terms of biodiversity, experts warn that the recent warming linked to climate change may exacerbate existing biodiversity challenges in Switzerland. This is especially pertinent given that 36% of plant, animal, and fungal species are currently endangered. Researchers anticipate that while some species may migrate from southern Europe, the number of species facing extinction is likely to increase due to deteriorating natural habitats, with those near water bodies, wetlands, and mountainous regions being particularly vulnerable.

In agriculture, scientists from the Federal Agricultural Research Centre anticipate challenges ahead. Reduced summer rainfall will pose difficulties for farmers, and rising temperatures will lead to increased evaporation, resulting in drier soil that necessitates more irrigation and potentially leading to a rise in harmful pests.

To proactively address the growing impacts of climate change, Switzerland is committed to bolstering its efforts, initiatives, and programmes in the coming years. These endeavours are geared towards mitigating the anticipated adverse effects of climate change on the nation, its environment, and its thriving tourism industry, particularly in the Alpine region. (ANI/WAM)

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-Top News Europe India News

Swiss Embassy Denies Suspending Schengen Visas for Indians

Germany relaxes Schengen visa rules for Indians

Embassy said various measures have been implemented since the beginning of 2023 to further ease the visa application process for Indian applicants…reports Asian Lite News

The Embassy of Switzerland in India has denied reports that it has suspended Schengen visa appointments for Indian tour groups until October due to high volume of applications.

“We have almost 800 daily appointments through the end of September 2023. These include 22 groups,” the mission said in a statement released on Thursday.

Asserting that people-to-people contact is at the core of Swiss-Indian relationship, the Embassy said that it has processed more visa applications in the current year than it did in 2019.

“We have surpassed our pre-pandemic times processing level. From January until June, we handled 129,446 applications, as against 120,071 during the same period in 2019 — a 7.8 per cent increase.”

In addition, it said various measures have been implemented since the beginning of 2023 to further ease the visa application process for Indian applicants.

As per these measures, it would now be possible for the applicants to apply for their visa six months before their date of travel, as against one month in the past.

So, someone wishing to travel in June can already apply for a visa in January.

Further, the Embassy has increased its overall capacity in India. With a new Visa Application Centre (VAC) in Lucknow, there are now 13 VACs all over India, where applications can be submitted.

The mission also informed that at present it takes “no more than 13 working days between the appointment by our partner VFS Global and the Embassy’s decision on the application”.

The statement of clarification came following media reports on Tuesday which said that Indian tour operators were informed by the Swiss embassy to reschedule group trips to allow ample time for visa processing.

“Swiss embassies are currently dealing with a lack of staff,” several media reports had said, citing Simon Bosshart, Head of Markets East at Switzerland Tourism.

A Schengen visa is a short-stay visa granting individuals an opportunity to travel to any member country within the Schengen Area for tourism or business purposes for up to 90 days.

One Schengen visa application costs 80 euros or Rs 7,260 in India.

India had the second-highest number of Schengen visa rejections worldwide in 2022, leading to an estimated loss of Rs 87 crore on canceled trips, according to SchengenVisaInfo.com.

Indians spent a total of over Rs 487 crore on Schengen visa applications alone, for 6,71,928 applications in 2022.

Out of Rs 487 crore, more than Rs 87 crore was lost on the 1,21,188 visa applications that were rejected.

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-Top News India News

Hopes up for India-Switzerland FTA in 2023

The Prime Minister, Shri Narendra Modi with the President of the Swiss Confederation, Mr. Alain Berset, in Davos on January 22, 2018.

The Swiss envoy said there is a great opportunity once the trade deal is sealed as Swiss investments in India can grow triple-fold, reports Naveen Kapoor

The negotiations on the Free Trade Agreement (FTA) between India and Switzerland will resume in February this year when the Swiss trade secretary will be on a visit to New Delhi. The FTA will be a great opportunity for Swiss investments in India to grow triple-fold.

Hopeful of an FTA to be signed in 2023, Switzerland’s ambassador to India Ralf Heckner told ANI, “Both sides don’t want to see negotiations dragging on as in the past but a lot of things have changed. India’s position has changed. Switzerland is open for business when it comes to trade negotiations. So in 2023, I expect both sides to look into their negotiating positions and then assess whether wrapping up the negotiation is possible.”

The Swiss envoy said there is a great opportunity once the trade deal is sealed as Swiss investments in India can grow triple-fold.

“I will work on getting this done in 2023 but I’m not the only person to make the trade deal happen as I said the secretary will be in town beginning of February which shows the interest of Switzerland and the EFTA (European Free Trade Association) stated for wrapping up the negotiations,” Ralf Heckner added.

He further said, “With a trade deal we would be able to reach our potential, now what is the potential? Once you define the potential then, you will find the energy to wrap up negotiations. The potential is huge and I give you two examples: there are 330 Swiss companies physically located in India.”

The Swiss ambassador continued by saying, “There are 1000 enterprises in China, but we were able to conclude a trade agreement with China years ago involving intellectual property rights. We could actually triple the presence of swiss business in India with a free trade agreement.”

Speaking about the extent of investment opportunities in India, Heckner said, “If you have a look at our trade relationship with the US, we are the seventh biggest investor in the US. You are talking about USD 300 billion invested if you compare that with USD 10 billion with India, the sky is the limit, so that’s the potential.”

Last year, India has already concluded free trade agreements with UAE and Australia.

The President of the Swiss confederation will be visiting India this summer, the Swiss envoy informed ANI. The envoy also thanked India for inviting Switzerland to G-20 and lauded its efforts to bring peace to the current global environment. (ANI)

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-Top News UK News

UK govt signs science co-operation pact with Switzerland

Photo taken on Dec. 29, 2020 shows a man walking along the Waterloo Bridge backdropped by the Houses of Parliament in London, Britain. (Xinhua/Han Yan/ians)

Federal Councillor Guy Parmelin said, “The UK and Switzerland are both world leaders when it comes to research and innovation. ..reports Asian Lite News

The UK and Switzerland have today (Thursday 10 November) signed a major agreement deepening the relationship between the 2 countries’ world-leading research and innovation communities. The agreement was signed by UK Minister of State for Science, Research and Innovation, George Freeman MP, alongside Federal Councillor Parmelin, Head of Switzerland’s Federal Department of Economic Affairs, Education and Research, at a ceremony in London.

Switzerland – placed top of the global rankings for innovation for the past 10 consecutive years, as well as being home to 2 of Europe’s top 10 universities, a number of world class research laboratories and companies such as Roche and Novartis, and commercial space and satellite technology companies – is a natural partner for the UK.

Together the 2 nations have 10 of Europe’s top 20 research Universities, and this agreement will deepen an ambitious bilateral relationship in areas of mutual interest across 3 key pillars: deep science, industrial commercialisation and international standards and regulation.

The UK, with 7 universities in Europe’s top 10, and a larger share of its own research among the world’s most highly-cited than any other G7 country, brings its own exceptional research and innovation strengths to the table.

Signing the MoU, Minister of State, George Freeman, said, “Being a Science Superpower means deepening our international relationships with leading R&D economies like Switzerland, and pursuing multi-lateral collaborations to tackle urgent global challenges like climate change, biosecurity and space sustainability. Research is fundamentally collaborative, and this will be another key step in realising the UK’s ambitions to deepen international R&D partnerships with leading laboratories, countries and industries around the world. Switzerland is home to world class research in life science – especially neuroscience and vaccines, quantum, space, fintech and cleantech – and with longstanding links with the UK, it is a key strategic partner for us.”

This agreement is more than a piece of paper: Swiss Ministers and I are clear we want to drive deeper tangible co-operation in research fellowships, industrial innovation and regulatory standards in new technology sectors.

The memorandum will encourage particular focus on cooperation in ‘deep science’ and ‘deep tech’ (including life science, energy technology, AI and space), as well as commercialisation through innovation, and policy and diplomacy in science and innovation.

Federal Councillor Guy Parmelin said, “The UK and Switzerland are both world leaders when it comes to research and innovation. Our shared principles, values and scientific excellence make us natural partners. In line with Switzerland’s goal to strengthen bilateral cooperation in research and innovation with competitive countries worldwide, the MoU with the UK will provide an excellent framework to further develop our partnership. International scientific cooperation is key to solving many global challenges. We can go further, move faster and achieve more by working together.”

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Lite Blogs Travel & Tourism

Must travel Swiss

Switzerland has moderate temperatures throughout the year. In the winters, the lowest is -2 C and the highest goes to 28 C during the summer months…writes N. LOTHUNGBENI HUMTSOE

Switzerland is on the wish list of most global citizens, sometimes for months and years! So, when you do finally get the chance to travel to the land of your dreams, are you prepared enough? Here are 10 things you should tick off on your travel list before you head out for your vacation:

1. Direct Flights by SWISS

Delhi and Mumbai travelers can book direct flights with Swiss International Air Lines (SWISS). You get your first taste of the Swiss experience mid-air being pampered with chocolates by an ever-smiling crew.

For more information ttps://www.swiss.com/in/en/homepage

2. Swiss Travel Pass

Switzerland’s public transport system is one of the most efficient and seamless experiences in the world. Buy a Swiss Travel Pass (STS) online and travel across over 90 towns and cities in premium panoramic trains with one single ticket! With an STS, you have access to the local buses, cabs, boats, cable cars, and trains, all connecting you to different parts of the country.

For more information https://www.myswitzerland.com/en-in/planning/transport-accommodation/tickets-public-transport/swiss-travel-pass/

3. Essentials

Switzerland has moderate temperatures throughout the year. In the winters, the lowest is -2 C and the highest goes to 28 C during the summer months. Pack accordingly. Sturdy sneakers, trekking boots if you’re into adventure, sunscreen, swimming essentials, sea shoes as the lakes are full of pebbles, an umbrella and lastly, a socket converter are some essential items you should carry with you.


4. Punctuality

Switzerland is known for its timekeeping for a reason! They value time and hate being late. No surprise that some of the best watchmakers in the world come from this country. When you travel there, you’ll see everything runs like clockwork, be it their public transport or their meetings. So, keep a watch on your watch when you’re there or you’ll have missed plans.


5. When to visit

The answer is anytime! Switzerland is ready when you’re ready. If you’re a winter person and love snow, mid-December to mid-March is perfect for skiing, snow-tubing, snowshoeing, etc. Autumn from September to November is beautiful with its mists, changing colours of foliage, and stunning walking tours. Summer from May through September is the perfect time for outdoor activities with clear blue skies and pleasant weather when you can go hiking, biking, paragliding, boating, etc.


6. Language

Most locals are fluent in English but you should know that Switzerland has four national languages – French, German, Italian, and Romansh. You’ll hear these spoken in different regions as you travel across the length and breadth of the country.

7. Must visit locations

The options are endless because everywhere you turn in Switzerland, you’ll see something spectacular. There is something for everyone in this country. A few experiences, however, will take your breath away. Take the view from the Matterhorn in Zermatt which is the world’s most photographed mountain. Zurich’s nightlife, Lucerne’s old-town fairytale vibe, a sunset walk across Montreux Riviera, panoramic views of the perfect powder-snow Alps of Engelberg, an adrenaline rush in Interlaken – Europe’s adventure capital or a splurging spree in the luxurious resort town of St. Moritz – you cannot miss out on these!

8. Swiss Food

The local Rosti, Cheese Fondue, Raclette, wine, and chocolates are must-haves, of course, but if your palate hasn’t taken a fancy to the local food, worry not. There is a multitude of cuisines available such as German, French, Italian, Chinese, and even Indian, to name a few. There are street food, vegan and vegetarian choices, and several fine dining Michelin Star restaurants to choose from.

9. Water

Fun fact – tap water tastes a lot better than most bottled water! It is a lot cheaper too! Carry a glass or steel bottle with you wherever you go, and refill it from anywhere when you’re on the move. You don’t want to spend on bottled water.

10. Activities

Foodies can experience several local and global cuisines. Adventure lovers can trek through some of the most idyllic trails or choose any one of the 199,872 cycling routes. Sports/history buffs can visit world-renowned museums like the FIFA museum in Zurich, The Olympic Museum in Lausanne, the Swiss Museum of transport in Lucerne, or the Patek Philippe Museum in Geneva. Wellness enthusiasts will find some of the best spas offering treatments from across the world. When you soak in all these experiences surrounded by the fresh mountain air, you know you’ve lived your Swiss dream right!

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-Top News UK News

Britain kick starts work on trade deal with Switzerland

In 2020, the United Kingdom was the second-largest exporter of services to the world, with exports worth £266.8 billion. Switzerland was 12th largest, with £89.6 billion…reports Asian Lite News

The UK yesterday kickstarted work for a new enhanced trade deal with Switzerland, after Prime Minister Boris Johnson hosted Swiss President Ignazio Cassis for bilateral talks in London.

The enhanced deal aims to boost two-way trade between two of the world’s biggest services superpowers through measures including breaking down barriers and opening up access for U.K. firms to the Swiss market.

The Department for International Trade is launching an eight-week consultation calling on businesses and the public for their views ahead of the start of negotiations.

Switzerland is already an important partner for the UK, with bilateral trade worth nearly £35 billion annually. Many UK businesses benefit from tariff free trade on most goods under our existing trade agreement rolled over from the EU, but the current deal does not cover services, which account for over half of our bilateral relationship.

As two services powerhouses globally renowned for their expertise, both the UK and Switzerland are keen to negotiate an ambitious, unprecedented free trade agreement that will boost both our economies and show the world what is possible between two like-minded and innovative democracies.

International Trade Secretary Anne-Marie Trevelyan said, “A new enhanced trade agreement with Switzerland is a huge opportunity to liberalise trade with our 10th largest trading partner and unlock new opportunities for our world-leading services sector. As two services superpowers, we have a huge opportunity to negotiate a modern, ambitious, unprecedented deal that will boost both our economies and show the world what is possible between two like-minded and innovative nations who are firmly within Europe but outside of the EU.”

In 2020, the United Kingdom was the second-largest exporter of services to the world, with exports worth £266.8 billion. Switzerland was 12th largest, with £89.6 billion.

This deal will help take our relationship to the next level in industries of the future such as digital trade, innovative services, and green growth – delivering higher-paying jobs across the country. It will support trade in vital industries of the UK economy, including finance, legal services, consultancy, the tech sector, and the creative industries, helping contribute to setting new rules and standards for digital trade in the 21st century.

CBI President Lord Bilimoria said, “That DIT is seeking inputs into enhancing the UK-Swiss FTA is to be welcomed, and the CBI looks forward to responding. The CBI-driven Joint UK-Swiss Bilateral Trade & Investment Council launched earlier this year identified significant opportunities to deepen the existing trading relationship, primarily by enhancing digital and services trade. Alongside the ongoing dialogue on Financial Services, this consultation presents an opportunity to increase cooperation on issues ranging from customs, reducing complexity in short-term mobility and building cooperation on innovation through our world-class research institutions.”

Managing Director, International Trade and Investment, TheCityUK Nicola Watkinson said, “As the first and third largest net exporters of financial and related professional services globally, the UK and Switzerland have a great deal to gain by setting a new gold standard for services trade between two sovereign nations. In the UK, nearly half of these exports are generated outside London, in towns and cities right across the UK, so making progress with this agreement can deliver real benefits to local jobs and prosperity. In the long term, a free trade deal with Switzerland will complement wider progress towards mutual recognition, and can be used as the model for new-generation trade deals with other partners worldwide.”

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-Top News Europe

Suisse leak lands Switzerland in soup

The European People’s party (EPP), the largest political grouping of the European parliament, called for the EU to review its relationship with Switzerland and consider whether it should be blacklisted…reports Asian Lite News

The fallout from a huge leak of Credit Suisse banking data threatened to damage Switzerland entire financial sector on Monday after the European Parliaments main political grouping raised the prospect of adding the country to a money-laundering blacklist, The Guardian reported.

The European People’s party (EPP), the largest political grouping of the European parliament, called for the EU to review its relationship with Switzerland and consider whether it should be added to its list of countries associated with a high risk of financial crime.

Experts said that such a move would be a disaster for Switzerland’s financial sector, which would face the kind of enhanced due diligence applied to transactions linked to rogue nations including Iran, Myanmar, Syria and North Korea, the report said.

“When Swiss banks fail to apply international anti-money-laundering standards properly, Switzerland itself becomes a high-risk jurisdiction,” said Markus Ferber, the coordinator on economic affairs for the EPP, which represents Europe’s centre-right political parties.

“When the list of high-risk third countries in the area of money laundering is up for revision the next time, the European Commission needs to consider adding Switzerland to that list.”

The investigation, called Suisse secrets, identified clients of the Swiss bank who had been involved in torture, drug trafficking, money laundering, corruption and other serious crimes, The Guardian reported.

“Bank privacy laws must not become a pretext to facilitate money laundering and tax evasion. The Suisse secrets findings point to massive shortcomings of Swiss banks when it comes to the prevention of money laundering,” Ferber said, adding: “Apparently, Credit Suisse has a policy of looking the other way instead of asking difficult questions.”

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Business Economy India News

India fourth largest forex holder in world

India’s salient external sector sustainability indicators are strong and much improved as compared to what they were during the global financial crisis or taper episode of 2013…reports Asian Lite News

As of end-November 2021, India was the fourth-largest foreign exchange reserves holder in the world after China, Japan, and Switzerland, the Economic Survey 2021-22 has noted.

Despite all the disruptions caused by the global pandemic, India’s balance of payments remained in surplus throughout the last two years.

This allowed the Reserve Bank of India to keep accumulating foreign exchange reserves, which stands at $634 billion on December 31, 202). This is equivalent to 13.2 months of imports and higher than the country’s external debt.

A sizeable accretion in reserves led to an improvement in external vulnerability indicators such as foreign exchange reserves to total external debt, short-term debt to foreign exchange reserves.

India’s salient external sector sustainability indicators are strong and much improved as compared to what they were during the global financial crisis or taper episode of 2013.

For instance, the import cover and foreign exchange reserves are more than double now. The combination of high foreign exchange reserves, sustained foreign direct investment, and rising export earnings will provide a good buffer against any liquidity tapering/monetary policy normalisation in 2022-23.

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