Every member of the World Trade Organization (WTO) must submit periodically to a review of its trade policy by the WTO. The report on Switzerland and Liechtenstein has now been published. In it, the open economic and trade policies of both countries were strongly praised. The positive state of both economies – both from the WTO and in the comments of the WTO member states – were also highlighted. Also receiving high points was the two countries’ unrestricted support for the multilateral trade system in a time of increased protectionism.
Liechtenstein was recognised in particular for it strong industrial base, R&D investments, job situation, education system and financial reforms, according to a government statement. The government also emphasised that some of the delegation members were “visibly impressed” by the degree of diversification and success of Liechtenstein’s economy. Liechtenstein’s involved in international tax cooperation was also welcomed. Certain restrictions in the area of services and investments were, however, criticised.