Dubai: Guy Parmelin, President of the Swiss Confederation, emphasized Switzerland's long-standing policy of neutrality and its banking sector as key pillars of national strength during a session at the World Governments Summit 2026. He cautioned that rising protectionism poses a threat to the global economy.
According to Emirates News Agency, President Parmelin highlighted the importance of stability in attracting investment, which offers a secure and predictable environment for businesses. He underscored the need for increased investment in education, scientific research, and innovation to bolster long-term economic resilience.
Parmelin commended the UAE's development model, noting its bold approach, future-oriented vision, and ability to attract foreign investment. He pointed out the similarities between Switzerland and the UAE, emphasizing their economies' focus on international trade and sustainable resource use, which present strong opportunities for expanding bilateral cooperation.
Despite limited natural resources, Switzerland has built a diversified economy by expanding its network of free trade agreements and relying on human capital and knowledge-based growth. Addressing technological change, Parmelin noted that progress in fields like artificial intelligence is inevitable, and the challenge lies in adapting to technology for societal wellbeing while managing risks.
Parmelin also discussed the challenges of maintaining neutrality during conflicts, highlighting Switzerland's small population's need for flexibility and dynamism. He outlined efforts to preserve a competitive business environment by reducing bureaucracy, lowering costs for companies, and ensuring fair market conditions, without following a state-directed industrial policy.
Regarding relations with the European Union, Parmelin identified it as one of Switzerland's key challenges. The EU is Switzerland's largest trading partner, and the government seeks to balance national independence with openness to the European market.
He warned that prolonged global stagnation and growing protectionism could disproportionately affect smaller economies, impacting not only Switzerland but the global economy. Parmelin concluded by stressing the importance of achieving peace and reducing international tensions, reaffirming Switzerland's readiness to support mediation efforts and offer good offices, contingent on the willingness of involved parties.
The World Governments Summit 2026 gathers over 60 heads of state and government, more than 500 ministers, representatives from over 150 governments, 80 international and regional organizations, over 700 CEOs, and over 6,250 participants worldwide.
