The announcement comes two days after the EU and Canada signed a similar deal, and on the same day at the NATO summit in The Hague.
Landlocked in Europe, Switzerland is not a member of the EU or of NATO but is largely surrounded by countries which are.
At its weekly meeting on Wednesday, the Swiss government "decided to enter into exploratory talks with the EU with a view to concluding a security and defence partnership", it said in a statement.
"A partnership of this kind is a prerequisite for any joint procurements in the defence sector. It is compatible with neutrality and helps to strengthen Switzerland's defence capabilities."
Britain signed a similar defence partnership in May, and Australia and the EU announced last week that they had begun negotiations for an agreement.
Bern said it had an interest in greater cooperation with Brussels, particularly in relation to armaments.
"Due to the dynamic developments in international armaments cooperation, exploratory talks should be launched as soon as possible," the government said.
"A security and defence partnership is a non-legally-binding declaration of intent and is compatible with neutrality. Switzerland would not be subject to any legal or financial obligations."
Switzerland's long-standing position has been one of well-armed military neutrality and the country has mandatory conscription for men.
A key facet of its national identity, Swiss neutrality traces its roots back to 1516 and has been internationally recognised since 1815.
Global geopolitical tensions, particularly Russia's war in Ukraine, are fuelling a desire among the Swiss for greater cooperation with NATO, according to a survey published on June 17 by the defence ministry.
According to the survey, 53 percent of respondents favoured closer ties, while 32 percent supported Switzerland joining the defence alliance.
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