Migration and Economic Development
SECO's economic development cooperation helps to ensure that fewer people emigrate due to a lack of prospects. It also supports efforts by the diaspora to promote sustainable development in its countries of origin.
Less poverty, decent prospects and education, training and employment opportunities reduce the causes of irregular migration. SECO’s projects help to create better economic framework conditions and jobs.
SECO’s projects improve living standards: Local jobs create prospects and reduce migration.
SECO supports the contribution of migrants to sustainable development in their countries of origin through remittances. These money transfers from migrants living abroad to family members back home are an important source of income. In 2023, they were higher than total official development assistance and foreign direct investment combined. SECO supports initiatives that make remittances more efficient and cost-effective.
Given their knowledge about local industry, migrants have an advantage when investing in businesses in their country of origin. SECO supports promising private initiatives that have major job creation potential.
Coordinated Swiss foreign migration policy
Switzerland holds discussions with its partner countries on economic cooperation and migration. SEM, the SDC, the State Secretariat of the FDFA and SECO cooperate within the framework of the Interdepartmental Structure for International Cooperation on Migration (ICM Structure) in order to exploit synergies between migration and foreign policy while taking account of national interests.