The Ministry of Commerce of China File photo: VCG

The share of zero-tariff imports in goods trade for China and Switzerland will exceed 99 percent, after the two sides recently concluded negotiations on upgrading the Free Trade Agreement (FTA), a spokesperson from China's Ministry of Commerce (MOFCOM) told a press conference on Thursday.

Under the arrangements of the FTA upgrade, China and Switzerland have made high-level mutual opening commitments in the areas of goods, services, and investment, said Huang Ling, spokesperson from the MOFCOM. 

She added that the two sides have also upgraded and improved rules of origin, trade facilitation, and have agreed to strengthen cooperation on standards and conformity assessment. "These measures will help further promote the development of bilateral trade," Huang noted.

In services trade and investment, the upgrade of the FTA will facilitate China's exports of producer services to Switzerland, while providing investors from both countries with high-level investment access and a more stable, transparent, and predictable business environment. 

In addition, the two sides will pursue broader and deeper cooperation in areas such as digital trade, artificial intelligence, sustainable development, supply chains, pharmaceuticals, the machinery industry, and the watchmaking sector, according to the spokesperson.

Huang noted that the upgrade of the China-Switzerland FTA will create new opportunities for economic and trade cooperation between the two countries. Amid the current international environment full of uncertainties, it demonstrates both sides' clear commitment to choosing certainty, supporting free trade and open cooperation, and upholding a rules-based multilateral trading system. 

"At present, both sides are accelerating the completion of their respective domestic procedures so that the upgrade protocol can be formally signed at an early date, enabling the outcomes to take effect and benefit enterprises and people of both countries as soon as possible," she said.

The two sides launched FTA upgrade negotiations in September 2024. After five rounds of negotiations and consultations, the MOFCOM announced on August 21 the completion of the upgrade negotiations.

The China-Switzerland FTA was signed in July 2013 and entered into force in July 2014. It was the first FTA that China signed with a continental European country, according to the MOFCOM.


Global Times