ZURICH (Reuters) -Swiss Economy Minister Guy Parmelin on Tuesday formally signed a free trade agreement that was concluded earlier this year with the Mercosur states, his ministry said.
Parmelin signed the deal in Rio de Janeiro with representatives of the other member states of the European Free Trade Association (EFTA), his ministry said in a statement.
The free trade deal will enable tariff savings for Swiss companies of over 155 million Swiss francs ($197 million) per year in commerce with the bloc, it said.
The Swiss government will submit the accord to parliament for approval, and it will take effect once the approval processes among the signatories have been completed.
($1 = 0.7874 Swiss francs)
(Writing by Dave Graham, editing by Thomas Escritt)
