Recently, Chinese Minister of Commerce Gao Hucheng and Swiss Federal Councilor and Minister of Economy John Schneider-Aman officially signed the China-Switzerland Free Trade Agreement (FTA) in Beijing. This landmark deal marks the first comprehensive free trade agreement between China and a European country, signaling a major step forward in bilateral economic relations.
The China-Switzerland FTA is a high-level, comprehensive, and mutually beneficial agreement that covers a wide range of sectors. One of its most notable features is the high zero-tariff ratio. Under the agreement, Switzerland will immediately apply zero tariffs on 99.7% of Chinese exports to the country. On the other hand, China will eventually eliminate tariffs on 84.2% of Swiss goods, with 67% of these products seeing immediate tariff reductions upon the agreement's implementation. An additional 17% will be phased out over 5 to 10 years, and up to 15% will see gradual reductions. Moreover, 12.3% of Swiss products will have their 60% tariffs eliminated within 10 years. In the long term, the tax reduction coverage in Switzerland will reach 99.99%, while in China it will be 96.5%, significantly surpassing the typical 90% level seen in other FTAs.
Beyond trade, the agreement also serves as a platform for deeper industrial collaboration between the two nations. It includes provisions on environmental protection, labor rights, intellectual property, government procurement transparency, and competition policy—areas that reflect modern trade standards and mutual interests.
This FTA not only strengthens economic ties but also sets a new benchmark for future trade agreements between China and European countries. It demonstrates a commitment to openness, cooperation, and sustainable development.
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