Switzerlands economy is globally integrated, capitalizing on the Swiss governments open trade regime.

Switzerlands trade is flourishing on account of low tariffs on manufactures and absent quantitative restrictions. There are, however, some sectors in the Swiss economy that have limited trade activity, predominantly as a result of weak anti-cartel legislation and certain investment restrictions. Switzerland Trade, Exports and Imports: Overview
Switzerland has a small domestic market and limited mineral resources, which makes the nation reliant on imports. Nonetheless, during 2009, Switzerlands exports stood at $190.1 billion, exceeding its imports by $12.9 billion. The reason for the favorable trade scenario is that Switzerland processes several import commodities and resells them to its trade partners at a profitable margin. Key Switzerland import commodities are: Machinery Chemicals Metals Agricultural products Textiles Switzerland is acknowledged globally for being a principal exporter of chocolates and watches. However, currently, more than half the Swiss exports comprise chemicals and electrical and mechanical engineering products

ajor trade partners of Switzerland and their share in its total trade, according to CIA reports for 2009, include:

Exports
Germany US Italy France 19.7% 9.6% 8.7% 8.6% Germany Italy France US

Imports
33.3% 11% 9.4% 5.8%

Switzerland Trade Agreements

Switzerland maintains close trade relations with the European Union (EU), which has resulted in the creation of several trade agreements over the last four decades, including: The Free Trade Agreement, 1972: It was primarily intended to create a free trade zone to dismantle quotas and customs for industrial products. The Insurance Agreement, 1989: The act guaranteed insurance companies from Switzerland the right to establish operations anywhere in the EU without much legal restrictions. Additionally, Switzerland entered a bilateral agreement with the EU in 1999 to: The agreement was further modified in 2004 to cover greater economic interests as well as extend cooperation in the fields of environment, culture and internal security, asylum, the environment and culture. Countering fraud in trade transactions within the respective Facilitate public procurement Remove technical trade barrier Support agriculture Encourage free movement of labor

territories is another focus area of the Bilateral Agreement II between Switzerland and the EU.

India is shaping up as an export hub for power equipment and automation global major ABB, which is foraying into Africa, besides being a promising supply base for traditional strongholds such as Europe and West Asia. "ABB's global plan is to make India an export hub," Bazmi R. Husain,

managing director, ABB India told Hindustan Times. "Everybody talks about Africa as next growth destination. We have people stationed in Africa (from our) employees in India." The $35-billion ABB's 1,000 man R&D centre in Bangalore (its largest), its 14 manufacturing locations in the country and a strong investment pipeline at Rs 500 crore a year, power its domestic as well as export growth. "Our overall export is a little less than 15% of our total revenue. We see that growing," he said. The company added a new production line for miniature circuit breakers, a key component in electricity supply, with the capacity to make 25 million units a year, mostly for exports. "Some of the equipment we make only in two countries - Germany and India," he said.

In December, ABB bagged a Rs 4,000-crore order from Power Grid Corporation to deliver an ultra-high voltage direct transmission system, the 1,700-km link that will supply hydelpower from the north-east to the Agra region. Husain said this link, to be commissioned by 2014-15, is "the biggest of its kind" in the world. "Our overall game plan in India is to save 215 MW energy every year by reducing transmission loss," he said. ABB India's July-September quarter net profit was Rs 22 crore and revenue Rs 1,726 crore. "In 2008-09 we went into a bit of rough time," said Husain. "We exited loss making rural electrification business and indigenised product development. Traditionally our margins are 8-10% and we will be back to th

Opportunity in India

ABB Fresher Recruitment for 2011 Batch B.E Computer Science Graduates
About ABB Ltd ABB is a global leader in Power and Automation technologies that enable utility and industry customers to improve their performance while lowering environmental impact. The ABB Group operates in around 100 countries and has a long-standing presence in India, spanning several decades. The company employs around 5000 people and has extensive local manufacturing across 9 centers supported by a countrywide marketing and service presence. ABB India serves utility and industry customers with the complete range of ABBs offerings. And the major business is in Power Products, Power Systems, Automation Products, Process Automation, & Robotics.