British trade department said, Britain and Switzerland will sign an agreement on Monday to continue trading on preferential terms after Brexit, protecting a trade relationship worth 32 billion pounds.

The formal signing of the deal, on which agreement had previously been announced, is one of only handful of concrete steps Britain has made towards ensuring that all the trade deals it currently benefits from as an EU member will continue after it leaves the bloc next month.

"Not only will this help to support jobs throughout the UK but it will also be a solid foundation for us to build an even stronger trading relationship with Switzerland as we leave the EU,” International Trade minister Liam Fox said.