This version is for browsers with a low level of support for CSS, and is des
Home Content Area
Traditionally Switzerland has long been a commodity trading centre of global significance, and over the past ten years this significance has grown considerably. For certain commodities - such as crude oil - Switzerland is the world's largest trading centre.
According to estimates, there are over 500 companies and about 10,000 people working in the commodity trading business, which alongside trading also encompasses freight forwarding commodity trade finance, inspection and verification. With net receipts of around CHF 20 million, the commodity sector contributes about 3.5% to Switzerland's GDP. For the Swiss financial centre, commodity trade finance represents an additional pillar and an important complement to wealth management.The reason why Switzerland holds such a significant position in worldwide commodity trading lies in its long tradition in that field and its favourable environment for companies in all sectors.
This central position in commodity trading poses a number of challenges for Switzerland. On the one hand, Switzerland faces fierce international competition as a business location, not only from individual EU member states and the United States, but also Singapore, Dubai and other Asian locations. On the other hand, particularly with the extraction of commodities, challenges exist regarding respect for human rights, compliance with environmental and social standards, and transparency of - inter alia - financial flows.
On 27 March 2013, the Federal Council approved a report - and the recommendations contained within it - produced under the leadership of three departments on the different aspects of the commodities sector. As regards the work to implement the report's recommendations, the Federal Department of Finance (FDF) is responsible in particular for the areas of financial market regulation (derivatives), corporate taxation and double taxation agreements, combating money laundering, exerting influence in international forums (e.g. G20, Financial Stability Board, OECD), and gold trade statistics.
End Content Area