The countries’ transport departments have set up a working group to discuss the idea with third parties, public and private, invited to take part.
The MoU sets out issues to instigate, such as border controls, using the channel tunnel and working with commercial operators.
No timeframe for the railway was set.
UK Transport Secretary, Heidi Alexander, said a direct rail link had the potential to “boost tourism, grow our economy and bring people closer together – all while offering a greener option for passengers”.
Swiss Federal Councillor Albert Rösti said the MoU would help “examine concrete next steps”.
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