The market of North Macedonia is generally of limited interest to Swiss exporters due to its relatively small size. Priority sectors and opportunities for Swiss companies are: Agribusiness, “Industry 4.0” (i.e. light industry with higher added value), information and communication technologies (ICT), smart buildings and sustainable materials. Overall, the conditions for Swiss companies to do business in North Macedonia are favourable.

Compared to 2020 (with CHF 150 million), bilateral trade between Switzerland and North Macedonia increased in 2021 and amounted to CHF 174 million, an increase of 16%. Exports from Switzerland to North Macedonia increased by 11% in 2020, while imports to Switzerland increased by 21% compared to 2020. Imports to Switzerland amounted to CHF 90 million and exports to North Macedonia to CHF 84 million. The current framework of bilateral economic relations between North Macedonia and Switzerland is already favourable. Since May 2002, Switzerland’s trade relations with North Macedonia have been governed by the North Macedonia – EFTA Agreement. On 19 May 2021, the double taxation agreement between Switzerland and North Macedonia was adapted to the latest international standards.

However, deficits in the rule of law and political uncertainties are challenges that Swiss companies have to face.