Beijing, August 22: Chinese Commerce Minister Wang Wentao announced on August 20 that China and Switzerland have successfully completed their free trade agreement upgrade talks. This announcement was made jointly with Guy Parmelin, President of the Swiss Confederation and Minister of Economy, Education, and Research, in Bern.
Wang Wentao stated that discussions on upgrading the free trade agreement began in September 2024. After five rounds of consultations, both parties have successfully concluded the upgrade talks through mutual efforts. They have committed to a higher level of bilateral openness in various sectors, including goods, services, investment, and regulations, which will create new opportunities for economic and trade cooperation between the two nations.
Parmelin remarked that the successful upgrade of the agreement marks a significant milestone in the development of bilateral relations. It will provide a more stable, transparent, and predictable technical guarantee for the long-term growth of enterprises in both countries. This also sends a positive signal from both sides to enhance openness, cooperation, and free trade.
The China-Switzerland Free Trade Agreement was signed in 2013 and came into effect in 2014, making it the first free trade agreement between China and continental European countries.
(Source: China Media Group, Beijing)
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