Trade and economic cooperation.
According to Ukraine’s statistical data, total bilateral trade in goods and services in 2019 was stable with a slight increase by 1.9% and amounted to 2.920 billion USD. Exports grew by 9.5% to 1,1 billion USD while imports shrank by 2.7% to 1.819 billion. USD. The volume of bilateral trade in goods and services turned negative for Ukraine and amounted to -719 million USD.
In the first quarter of 2020 total bilateral trade in goods and services shrank by 10.4% or 56 million USD.
In 2020, Ukraine’s main exports to Switzerland was precious or semiprecious stones (gemstones), paper and paperboard, oilseeds, grain crops, products consisting of ferrous metals, and wood. Ukraine’s main imports from Switzerland was pharmaceutical products, nuclear reactors, boilers or machinery, electrical machinery, and foodstuffs.
As of 1 January 2020, Switzerland has invested 1.715 billion USD in Ukraine’s economy, or 4.9% of total FDI in Ukraine. Switzerland is among top 5 investors into Ukraine’s economy, ahead of France, Italy and Austria.
As of 1 January 2020, Ukraine’s investment in Switzerland was 13.4 million USD.
The Swiss-Ukrainian Committee for trade and economic cooperation has become an effective tool in boosting economic relations. In June 2019 in Bern, the 12th meeting convened. Status and prospects for the development of Swiss-Ukrainian economic relations were key topics of the discussion. Effective work of the Committee and its positive impact on the enhancement of economic relations between our countries were underlined. The delegations signed Joint conclusions of the meeting.
On 1 June 2012 Free Trade Agreement between Ukraine and EFTA (Norway, Switzerland, Iceland and Liechtenstein) entered into force.
Furthermore, the implementation of the Swiss Cooperation Programme Ukraine 2020-2023 will provide 108 million CHF to support technical and humanitarian assistance projects