China and Switzerland have embarked on a journey to enhance their economic partnership, as both nations began negotiations on Monday to upgrade the Sino-Swiss Free Trade Agreement (FTA).
The discussions were officially launched through a livestream by Chinese Minister of Commerce Wang Wentao and Swiss Federal Councilor Guy Parmelin, head of the Swiss Federal Department of Economic Affairs, Education and Research.
Minister Wang highlighted that the existing FTA, which took effect a decade ago, has significantly promoted bilateral trade growth and benefited enterprises on both sides. The proposed upgrade aims to further expand trade and boost two-way investments, fostering deeper economic and trade cooperation between the two countries.
Parmelin emphasized the importance of this move, especially in an era where trade protectionism is on the rise globally. He stated that the initiation of FTA upgrade negotiations underscores the commitment of China and Switzerland to building an open and standardized environment for international economic and trade cooperation, sending a positive signal to the global community about their dedication to deepening collaboration.
The Sino-Swiss FTA, signed in July 2013 and effective from July 2014, has laid a solid foundation for the economic ties between China and Switzerland, and the upcoming upgrade is expected to take this partnership to new heights.
Reference(s):
China, Switzerland open talks on free trade agreement upgrade
cgtn.com
