China and Switzerland officially launched negotiations to upgrade the free trade agreement

On September 23, Minister Wang Wentao and Swiss Federal Councillor and Minister of Economic Affairs and Education and Research Pamran jointly announced via video that China and Switzerland officially launched negotiations to upgrade the free trade agreement.

The two sides agreed to work together to intensify consultations and reach a high-level upgraded agreement as soon as possible on the basis of mutual benefit and win-win results.

Wang Wentao said that the China-Switzerland Free Trade Agreement has played a positive role in promoting the growth of bilateral trade in the 10 years since it came into effect, and the companies of both countries have benefited greatly. Upgrading the China-Switzerland Free Trade Agreement will help further expand bilateral trade and promote two-way investment, and promote the quality and upgrade of economic and trade cooperation between the two countries. Especially in the context of the current economic globalization encountering headwinds, it will send a positive signal to the outside world that the two countries support free trade and open cooperation.

Pamran said that China and Switzerland efficiently reached a win-win free trade agreement in 2013, creating rich benefits for both sides. At present, global trade protectionism is on the rise, and the launch of negotiations to upgrade the free trade agreement between China and Switzerland is of great significance. It shows that the two countries have always been committed to building an open and standardized international economic and trade cooperation environment, and sends a positive signal to the outside world that the two countries will deepen cooperation. I believe that with the joint efforts of both sides, the upgraded negotiations will surely be successful.

The China-Switzerland Free Trade Agreement was signed in July 2013 and came into effect in July 2014. In January 2017, during President Xi Jinping’s visit to Switzerland, China and Switzerland announced the launch of a joint feasibility study on the upgraded free trade agreement. In January 2024, during Premier Li Qiang’s visit to Switzerland, the two sides announced the completion of the joint feasibility study and agreed to formally launch the upgraded negotiations as soon as possible.