Switzerland will abolish import duties on industrial goods from the start of 2024 in a bid to shore up the country as a place to do business and support an economic revival, the government said on Wednesday after the cabinet signed off on the plan.

Parliament approved the idea last year as part of a campaign to help cut high domestic prices for hard-pressed consumers who often pay far more than in neighbouring Germany or France for the same products.

(Reporting by Michael Shields)