Switzerland, Liechtenstein Hold Economic Talks

05.04.2011


During a recent visit to Vaduz, Swiss Federal Councillor Johann Schneider-Ammann met with Liechtenstein’s Deputy Prime Minister Martin Meyer, with the talks focussing on the common economic area and the appreciation of the Swiss franc.

While Swiss Federal Councillor Schneider-Ammann used the opportunity to underline the close economic relations between the two countries, the talks also centred on the general economic development, on ongoing cooperation within the Liechtenstein-Swiss common economic area, on economic development activities and on the impact of the appreciation of the Swiss franc on the domestic economy.

With regards to the common economic area, long-standing cooperation between the two countries in the area of the customs union was discussed. Here, Liechtenstein’s Deputy Prime Minister Meyer underlined the need to keep in mind the special situation of the common economic area within the framework of European cooperation. The provision of cross-border services between Liechtenstein and Switzerland should not be hindered by steps towards greater European integration, Meyer warned.

According to the Liechtenstein government, the ongoing appreciation of the Swiss franc is having a significant impact on both the competitiveness and revenues of industry in Liechtenstein. Federal Councillor Schneider-Ammann informed Meyer of the Federal Council’s assessment of the situation and of the role of the Swiss National Bank (SNB) in dealing with the current situation.

Commenting on the issue, and the corresponding measures taken by the SNB as a result of the appreciation of the Swiss franc, Liechtenstein’s Prime Minister Klaus Tschütscher highlighted the fact that the relationship between Switzerland and Liechtenstein remains stable and excellent despite these challenging economic times.

 

Quelle: Tax-News.com