Switzerland has announced its intention to sign 12 bi-lateral tax-sharing agreements with other jurisdictions by the end of 2009 in order to lose its place in the 'grey' list of countries that need to improve cooperation and transparency in their tax affairs. The G-20 has threatened to impose sanctions on those who do not cooperate after the Organisation for Economic Cooperation and Development published a list of the offenders last month. Switzerland, among other offshore centres, has been told that in order to be removed from the list then it must sign at least 12 bi-lateral agreements to share tax information. Swiss president and finance minister Hans Rudolf Merz said: 'I have more than once criticised this number. I find the whole thing childish. But what happened is now something of the past. We need to look ahead.' Although Switzerland has not disclosed its targets' names, it will be talking to 23 countries.