<Tr> <Td> </Td> <Td> </Td> </Tr> <Tr> <Th> EU </Th> <Th> Switzerland </Th> </Tr> <P> The relations between Switzerland and the European Union (EU) are framed by a series of bilateral treaties whereby the Swiss Confederation has adopted various provisions of European Union law in order to participate in the Union's single market, without joining as a member state . All but one (the microstate Liechtenstein) of Switzerland's neighbouring countries are EU member states . </P> <P> The European Union is Switzerland's largest trading partner, and Switzerland is the EU's third largest trading partner, after the U.S. and China . Switzerland accounts for 5.2% of the EU's imports; mainly chemicals, medicinal products, machinery, instruments and time pieces . In terms of services, the EU's exports to Switzerland amounted to € 67.0 billion in 2008 while imports from Switzerland stood at € 47.2 billion . </P>

Why is switzerland not part of the european union