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Home News & Events AVIATION LAW NEWS: ‘Open Skies Agreement’ Signed between Switzerland and Japan

AVIATION LAW NEWS: ‘Open Skies Agreement’ Signed between Switzerland and Japan

Thursday, 13 February 2014 19:05

Switzerland and Japan have just signed a Treaty the primary objective of which is to remove administrative and regulatory hurdles for airline companies.

Signed in Tokyo, the Treaty establishes the framework conditions for use of the airspace, and the liberalization of the markets which would provide airlines the freedom to better plan their routes and services. The “open skies agreement” as it is better referred to, is to further boost mutual trade and investment as well as the lowering of airline ticket prices.

Indeed, in 2012, the value of Swiss exports to Japan rose to CHF6.7bn (USD7.4bn), while imports stood at CHF4.2bn.

Japan is Switzerland's second largest economic partner in Asia and the fourth largest economic partner in the world, after the European Union, the USA and China. In fact trade plays an important role between the two countries with Switzerland's main exports to Japan being primarily chemical and pharmaceutical products as well as watches and machinery, whilst Switzerland’s primarily imports include motor vehicles, precious metals and machinery.

More : http://www.lowtax.net/news/Switzerland-Japan-Sign-Open-Skies-Agreement-63652.html#sthash.d0p0XhG4.dpuf