China and Switzerland officially launch negotiations to upgrade their free trade agreement

Beijing, September 23 (Xinhua) -- On the 23rd, it was learned from the Ministry of Commerce that Minister of Commerce Wang Wentao and Swiss Federal Councilor and Minister of Economy and Education Pamland jointly announced via video conference that China and Switzerland have officially launched negotiations to upgrade their free trade agreement. Both sides agree to work together, intensify consultations, and reach a high-level upgrade agreement as soon as possible on the basis of mutual benefit and win-win results.

Wang Wentao stated that since the China Switzerland Free Trade Agreement came into effect 10 years ago, it has played a positive role in promoting bilateral trade growth, and companies from both countries have truly benefited. Upgrading the China Switzerland Free Trade Agreement is conducive to further expanding bilateral trade and promoting two-way investment, upgrading the quality of economic and trade cooperation between the two countries, especially in the current context of economic globalization encountering setbacks, which will send a positive signal of support for free trade and open cooperation between the two countries to the outside world.

Pamlan stated that China and Switzerland efficiently reached a win-win free trade agreement in 2013, creating abundant benefits for both sides. The current rise of global trade protectionism and the launch of negotiations to upgrade the free trade agreement between China and Switzerland are of great significance, demonstrating the two countries' commitment to building an open and standardized international economic and trade cooperation environment, and sending a positive signal to the outside world to deepen cooperation between the two countries. I believe that through the joint efforts of both parties, the upgraded negotiations will definitely achieve success.

The China Switzerland Free Trade Agreement was signed in July 2013 and came into effect in July 2014.