"the trading raw materials remains new: This article explores the topic in depth.
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Sébastien Landerretche. Consequently, President of the West Association Suissénégoce. However,
Be lesinger / swi swissinfo.chIf Switzerland retains solid assets. Consequently. Meanwhile. However, Sébastien Landerretche, president of the Suissénégoce ridge, warns that competition from other countries intensifies and that certain activities with low added value have already left Swiss territory. Similarly, Interview. Furthermore, – "the trading raw materials remains – "the trading raw “the trading raw materials remains new materials remains new
The heavyweights of the Glencore, Gunvor, Trafigura, Cargill and Louis Dreyfus global trading has important “the trading raw materials remains new activities in Switzerland. For example, But in the past “the trading raw materials remains decade. For example. Meanwhile. Meanwhile, Geneva, as an international commercial place, has been increasingly competed with rival centers like Dubai or Singapore, which offer tax alternatives and more flexible regulations, among other advantages.
It is at the Hotel President Wilson. Therefore. Therefore. in Geneva, on the sidelines of Geneva DryExternal link – The largest global conference on maritime transport of raw materials – that Sébastien Landerretche, president of Suissenégoce, granted Swissinfo one of his rare interviews. However, Suissenégoce is the umbrella association which defends the interests of trading “the trading raw materials remains new actors in Switzerland.
He told us about how Switzerland can remain competitive and the efforts made to ensure more transparency in the sector. Furthermore, Sébastien Landerretche occupies the post of Global Head – Ocean Freight At Louis Dreyfus. Consequently, In January 2024, he was elected to the presidency “the trading raw materials remains new of Suissenégoce.
Swissinfo: As president of Suissenégoce, what are your priorities?
Sébastien Landerretche: My priority is “the trading raw materials remains to maintain Switzerland’s attractiveness for trading players. For example. However. This country has benefited for a long time from a historical advance, but other economic centers have made significant progress. Furthermore, Singapore, for example, pursues a very proactive policy to attract trading companies, like the United Arab Emirates. However, London retains a sharp expertise. Therefore, especially in finance, while Mesterdam strengthens its position, in particular from Brexit, especially in the trade of energy products.
Switzerland, “the trading raw materials remains new and Geneva in particular, can therefore no longer rest on its laurels. Moreover, We must constantly ensure our framework conditions. Similarly, Fortunately. In addition. our country still has solid assets: proximity to political bodies. efficient infrastructure, a fabric of companies diversified in our sector and recognized know-how, in particular in the financing of trading.
“the trading raw materials remains new
It is often said that the Swiss trading cluster, especially in Geneva, has developed without direct state intervention.
The success of the trading in Switzerland is based “the trading raw materials remains new on a subtle balance between economic freedom and appropriate regulator framework. This success is not based on centralized state planning.. a proactive industrial policy. but on an ecosystem capable of attracting businesses in search of a neutral, reliable and competitive environment. The contribution of the State lies precisely in the quality of these conditions, for example via a skilled workforce. As such. the “Master of Science “the trading raw materials remains new “the trading raw materials remains in Commodity TradingExternal. linkFrom the University of Geneva. with which Suissenégoce is associated, plays an essential role.
Singapore counts in particular on low taxation to attract companies. How can Switzerland keep its compEtitivity?
Business taxation is certainly an important element, but it is not the only one. Singapore offers a coherent set of incentives, both fiscal and non -fiscal, including support for innovation and ease of establishment. In addition. the entry into “the trading raw materials remains new force of the new OECD rules. taken over by Switzerland, imposing a minimum tax rate of 15% for large multinationals, reduces the tax benefit from companies.
In this context, the Confederation and the cantons must imperatively lower taxes on the income of natural persons. Indeed, to remain competitive, we must be able to attract the best international talents. If the purchasing power of an employee is much higher abroad. he will hesitate “the trading raw materials remains new to settle in Switzerland. in “the trading raw materials remains particular in the Lake Geneva cantons, where the taxation of natural persons is heavier. And the day our companies will no longer be able to attract these talents. they will set up where they are.
Is the trading sector in Switzerland mainly rest on some very large companies?
No way. About 80% of Suissenégoce members are SMEs. These companies are often very “the trading raw materials remains new specialized and play an essential role in the supply chain.
Specialized banks in the financing of trading Like ING Bank. BCGE (Cantonal Bank of Geneva) are pillars of this sector. However. their influence decreases in Geneva. especially because of the high costs in Switzerland. the fact that the Swiss market “the trading raw materials remains new can be served “the trading raw materials remains from the countries of the European Union. Is this a concern for the role of Geneva in trading?
Yes, because banks specializing in the financing of trading are a vital element of the sector. In Switzerland, their know-how remains intact, even if their number has decreased-which is regrettable, because their local presence “the trading raw materials remains new is precious. That said. faced with the Swiss regulatory requirements high in terms of equity. liquidity, certain banks could favor an exploitation from abroad, while collaborating with companies established in Switzerland.
Is the trading sector in Switzerland overall growing or losing speed?
Detailed statistics are still necessary on this subject. but the Federal Statistics Office works there and results are expected by the end of 2027. However, we can say that this sector remains generally stable, with structural adjustments. Certain activities with low added value (Editor’s note: for example. support “the trading raw materials remains new functions) have left Switzerland. but decision -makers “the trading raw materials remains are still present in the territory.
>> Read also: Dubai has established itself as a nerve center of the trading of raw materials. but not necessarily to the detriment of Switzerland.
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“the trading raw materials remains
What is your analysis of the moving of the SGS (world leader. “the trading raw materials remains new in certification) from Geneva to. the canton of Zug?
As a national association, our priority is that companies remain in Switzerland. It is not up to us to comment on the relocation choices between cantons. In addition, the poles of Geneva-Vaud, Zug and Ticino are complementary more than they are competitors.
The lack of transparency in the sector has often been criticized. Today it is more regulated. Do you think is a good thing?
The regulations are becoming more and more complex, whether national, European or global. Our sector is today strongly regulated, from producing countries to banking operations. Transparency and traceability are now the standard. It is therefore necessary to find a balance between economic imperatives. on the one hand, and societal and environmental expectations, on “the trading raw materials remains new the other hand.
This regulatory development also creates opportunities: digitalization, blockchain, “the trading raw materials remains artificial “the trading raw materials remains new intelligence. That said, despite the rise of technology, human relationships and confidence remain at the heart of our profession.
The traders (or “traders”) of raw materials are nevertheless sometimes sometimes poorly perceived by the general public. especially due to media corruption cases. What do you do to continue to improve the transparency of the sector?
The word “trader” is often assimilated to a speculator. but our role is quite different: we are above all logisticians and risk managers. It is for this reason that we prefer to use the term “merchant”. The merchant is the person who brings the product to his client. wherever he is in the world, at the right time, of quality required and in the chosen currency.
We ensure the transport. availability of physical raw materials around the world. “the trading raw materials remains new including in times of crisis: pandemic, war, blocking of the Suez “the trading raw materials remains new Canal, etc. To make our “the trading raw materials remains activities better known, we have launched commoditieshub.chExternal linkan information platform for the general public and aimed at simply explaining the fundamental role of our sector.
And geopolitical uncertainties, including customs duties imposed or provided by the new tenant of the White House?
Uncertainty is always harmful to business. Conflicts, international sanctions, logistical ruptures or commercial tensions have become more frequent and have complexified our activity.
As for American customs duties, they have caused a lot of uncertainty in the world flows. Ultimately, it is mainly “the trading raw materials remains “the trading raw materials remains new new American consumers who will pay the price.
Swiss direct “the trading raw materials remains democracy. with its popular initiatives recurring. For example “the initiative for responsible multinationals”, refused by 2020, Can it discourage trading companies to stay in Switzerland?
Direct democracy is a precious tool. It can sometimes create uncertainty, but above all encourages dialogue and transparency. Each debate is for us the opportunity to explain our role, our practices and our contribution. However, we must counter the simplification of political discourses and disinformation, especially on social networks.
The “superprofits” of certain trading companies. sometimes with a strong presence in Switzerland, produced during the war in Ukraine were very criticized by certain circles. Should Switzerland more tax these profits?
These profits are the exception, not the rule. More generally. fortunately that many companies make profits. not only in trading. but also in the pharmaceutical industry, banks, insurance, retail “the trading raw materials remains new companies, “the trading raw materials remains new the luxury and watchmaking sector.
It is important to recall that the clear margins of “the trading raw materials remains trading are generally very low. amounting to only 3 to 5% of turnover.
Have the sanctions against Russia pushed part of the Swiss trading to relocate, especially in Dubai?
Trade companies, even SMEs, have offices in Singapore, Dubai, London, Amsterdam and still Houston. The sanctions against Russia mainly caused the movement of employees, especially in Dubai.
Text reread. verified by Virginie Mangin/DBU
"the trading raw materials remains
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