Global Times – huanqiu.com, Reporter Ni Hao — On the afternoon of August 27, the Ministry of Commerce (MOFCOM) held its regular press conference. A reporter asked about the recently concluded upgrade negotiations of the China–Switzerland Free Trade Agreement and the signing of a memorandum of understanding, requesting an introduction to the relevant details and the next steps for advancing China–Switzerland economic and trade cooperation in both depth and substance.
In response, MOFCOM spokesperson Huang Ling stated that under the upgraded FTA arrangements, China and Switzerland have made high-level commitments to two-way opening-up in goods, services, and investment.
On trade in goods, the proportion of zero-tariff imports will ultimately exceed 99 percent on both sides. The two parties have also upgraded and improved rules of origin and trade facilitation measures, and agreed to strengthen cooperation on standards and conformity assessment, which will further boost bilateral trade.
On trade in services and investment, the upgraded agreement will help promote China’s exports of producer services and other related sectors to Switzerland and provide investors from both sides with high-level investment access and a more stable, transparent, and predictable business environment. Meanwhile, the two sides will engage in broader and deeper cooperation in areas including digital trade, artificial intelligence, sustainable development, supply chains, pharmaceuticals, machinery industry, and watchmaking.
Huang Ling said that the successful upgrade of the China–Switzerland FTA will create new opportunities for bilateral economic and trade cooperation. Amid the current uncertain international environment, it demonstrates both sides’ clear commitment to certainty, free trade, open cooperation, and the rules-based multilateral trading system. At present, the two sides are expediting their respective domestic procedures with a view to signing the upgraded protocol at an early date, so as to bring the outcomes into force and deliver benefits to the enterprises and people of both countries as soon as possible.