After months of negotiations, Switzerland and the European Union have reached a landmark agreement to redefine their relationship.

The deal, signed by Swiss President Viola Amherd and EU Commission President Ursula von der Leyen, includes Switzerland's dynamic adoption of EU laws for market access, participation in the EU's Horizon Europe program, and a new electricity market agreement.

In return, Switzerland will contribute €375 million annually to EU cohesion policies and can limit EU migration under specific conditions.

While the Swiss government celebrates the agreement as a "milestone," reactions are mixed.

The right-wing SVP staged a symbolic protest, decrying the deal as a threat to Swiss sovereignty, while labor unions criticized its impact on wage protections.

Meanwhile, business groups and centrist parties welcomed the agreement as a step forward for bilateral relations.