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The food industry still plays a key role in Europe. In the EU this sector employs directly more than 4,5 million people mainly in the small and medium sized enterprises and that is very important for the local economic activity. Despite losing market share to emerging economies the EU remains the world's largest exporter of processed agricultural products (PAPs). It represents a turnover of € 1,160 billion. The food industry which employs more than 60,000 people and generates a turnover exceeding CHF 30 billion is also a pillar of the Swiss economy. Switzerland is amongst the most important destinations for exports of EU PAPs. At the same time, this country is the main supplier of PAPs to the EU. The free trade agreement in 1972 between the EU and Switzerland is indisputably the basis of this successful partnership. This agreement was extended to PAPs in 1994. That being said, the high quality of the products produced by both the EU and Swiss companies and of course, the geographical proximity definitely contributed to those excellent results.

Mo Tailland / 29th March 2016

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