Economy Minister Guy Parmelin signed an agreement for more sustainable international trade with his counterparts from New Zealand, Iceland and Costa Rica on Friday. According to a statement from the Department of Economic Affairs, new subsidies for coal or for the production of oil and gas should be banned.
In addition, the parties should be obliged to reduce tariffs for the around 300 environmentally friendly goods and over a hundred environmentally-related services defined in the agreement, as the Department of Economics, Education and Research (WBF) announced. This and the sectors involved should be strengthened.
Furthermore, actors who use voluntary environmental labels, for example, should be supported with non-binding guidelines in avoiding unnecessary trade barriers or implementation costs. Environmental labels help consumers to better understand how products should be assessed in terms of their sustainability. This allows providers to better advertise the ecological added value of their products.
Ultimately, the Agreement on Climate Change, Trade and Sustainability (ACCTS) is intended to support the transition to “low-emission, climate-resilient and sustainable” economies. According to the announcement, it should take on a pioneering role and grow with other contracting parties.
The Swiss Parliament still has to approve the agreement. It is expected to come into force for Switzerland at the beginning of 2026.
