30 November 2011 19:42 [Source: ICIS news]
Zurich-based scienceindustries fears that the initiative would, if successful, overburden
The trade group, which represents some 250 Switzerland-based chemicals and pharmaceuticals producers, is pressing
If such treaties became the subject of a referendum, resulting delays and hindrances would lead to competitive disadvantages for Swiss-based chemicals and pharmaceuticals producers, Sennhauser said.
“I don’t hope that this initiative will become a fact, and I am confident it will not happen,” he said when asked about the likelihood of the initiative’s success.
Also, the initiative has the backing of
Sennhauser noted that in 1992,
Under Swiss direct democracy, all domestic and foreign issues can become the subject of a referendum, he added.
In a separate statement on Wednesday, scienceindustries also reiterated its concerns about the high value of the Swiss franc, which prompted a number of chemicals and pharmaceuticals firms to look at plans to shift some of their production abroad.
Major firms with chemical or pharmaceutical production in
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