* Switzerland And Japan Explore Updated Tax Treaty, Closer Investment Ties
It emerged from Swiss President Joseph Deiss’s visit to Japan this week that informal talks will soon begin on the updating of the thirty-year-old double taxation avoidance agreement between the two nations. Japanese Finance Minister, Sadakazu Tanigaki, who met with Mr Deiss yesterday, indicated that the Japanese government is willing to initiate working-level talks ahead of official bilateral talks opening up soon between tax officials of both countries.
It has also emerged from talks between Deiss and the Japanese Prime Minister Junichiro Koizumi that work may begin on strengthening trade and investment ties between Switzerland and Japan, particularly in the field of hi-technology industries such as biotechnology and nanotechnology.
Deiss later explained to the Swissinfo news service that:
"For countries like ours, there is only one solution for the future, namely innovation and being at the forefront of technical and scientific research, [with] the ability to produce new products and be successful on world markets.”
The pair also discussed a possible bilateral free trade deal. However, Deiss stressed at a media briefing that for Japan, such a deal with Switzerland is “not priority number one” at present.
