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Türkiye and Switzerland have agreed to create a joint working group focused on pharmaceuticals and health technologies, aiming to foster deeper cooperation between the two countries’ industries and promote collaboration in innovation and investment.
The initiative is expected to enhance research partnerships and promote knowledge exchange in one of the fastest-growing sectors of both economies.
Switzerland is one of the world’s leading countries in the pharmaceuticals sector, as the chemicals and pharmaceuticals industry accounts for around 7% of its GDP and exports over CHF 100 billion ($124.70 billion) worth of products annually—nearly half of the country’s total exports, according to official figures.
The agreement was reached during a meeting in Ankara between Türkiye’s Treasury and Finance Minister Mehmet Simsek and Swiss Vice President and Minister of Economic Affairs, Education, and Research Guy Parmelin. The discussions were held at the Treasury and Finance Ministry and included representatives from both the public and private sectors.
Among the attendees were TOBB President Rifat Hisarciklioglu, Switzerland Global Enterprise Deputy Chairman Francois Gabella, Swiss Employers’ Federation President Christoph Mader, and Science Industries Chair Annette Luther, reflecting the diverse participation of trade, business, and innovation stakeholders from both sides.
During the talks, the delegations focused on ways to expand bilateral trade and attract new investments. They also explored the possibility of developing joint projects in third countries, a strategy intended to increase global outreach for both Turkish and Swiss enterprises.
The discussions additionally covered global economic challenges, including the growing trend of protectionism in international trade. Both sides emphasized the importance of maintaining open markets and advancing sustainable economic partnerships to navigate these challenges.
Minister Simsek also extended an invitation to Swiss representatives from the real sector and financial institutions to visit Türkiye for further talks. The visit would offer Swiss investors an opportunity to engage directly with Turkish companies and explore potential areas of cooperation in finance, manufacturing, and advanced technologies, according to the ministry.
In 2024, trade volume between Türkiye and Switzerland reached $12.78 billion, including $2.04 billion in Turkish exports and $11.18 billion in imports, with Türkiye’s main exports to Switzerland including gold, automobiles, petroleum oils, dried fruits, and medicines.
However, pharmaceutical trade between the two countries totaled $403.11 million, comprising $379.52 million in Swiss exports and $23.59 million in Turkish exports.
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