Flexibility & diversified foreign trade policies increase in importance
Today’s announcement by the US government to impose import tariffs on goods from countries with a trade surplus will hit the export-strong Swiss medtech industry hard. The USA imports 55% more medical devices from Switzerland than it exports to this land. The stakes are particularly high for our sector: In 2023, we exported medtech products worth CHF 2.8 billion to the United States – equivalent to 23% or almost one quarter of all Swiss medtech foreign sales. The USA is the industry’s second largest market following the European Union (EU), which accounts for 50% (approximately double) of the companies’ total exports.
FDA approval to signal support for foreign trade
«Swiss Medtech is calling on the Federal Council to actively protect key export channels – through rapid regulatory adjustments, as well as trade policy talks with Washington,», says Damian Müller, President of Swiss Medtech. Presently, Switzerland solely authorises medical devices with EU certification. As early as 2022, Parliament instructed the Federal Council to expand recognition to products approved by the US Food & Drug Administration (FDA). The aim was to ensure supply and strengthen our country’s attractiveness as a business location. New geopolitical factors are once more pushing this issue to the forefront: «The Federal Council has the power to implement Ordinances directing quick authorisation of FDA-approved products. This would also send a clear message to the US government indicating a preference for dialogue over customs measures,», states Damian Müller.
Diversification increases resilience
Swiss Medtech favours an open-minded and diversified approach – and is opposed to isolationism. Our 800 member companies located throughout Switzerland – from urban centres to Alpine valleys – are successful in all corners of the globe. They depend on positive framework conditions and stable trade relations to ensure continued competitiveness. «Export barriers not only jeopardise companies, but also jobs, innovation, and security of supply. Switzerland must respond to such challenges in a flexible, determined, and strategic manner,», says Adrian Hunn, Director of Swiss Medtech.
Diversification of trading partners becomes increasingly important in a geopolitically unstable world. Swiss Medtech is therefore calling for the proactive removal of technical barriers to trade and the further expansion of international agreements. «The EU remains by far our most important market: one in three jobs in the Swiss medtech sector depends on orders from the EU. This relationship must also be strengthened in a targeted manner,», Hunn emphasises in conclusion.
Swiss Medtech represents around 800 members in its role as industry association for Swiss medical technology. With 71,700 employees and a contribution of 11.9% to the positive trade balance, medical technology is an economically significant sector in Switzerland. Swiss Medtech advocates for conditions that enable the medtech industry to perform at peak capacity and provide first-class medical care.