New Trade Agreement Between China and Switzerland
The parties have signed a protocol to update the existing free trade agreement.
China and Switzerland have agreed to eliminate customs tariffs on 99% of goods traded between the two countries. The parties have signed a protocol updating their existing free trade agreement. The deal will enter into force once both countries complete their domestic approval procedures.
According to Xinhua, the protocol was signed in Beijing by Chinese President Xi Jinping and Swiss President Guy Parmelin. The update to the previous agreement, which came into force in 2014, is expected to further expand trade between the two countries.
The free trade agreement between China and Switzerland was first signed in 2013. It was China's first such agreement with a continental European country.
Negotiations on updating the agreement began in September 2024. After five rounds of talks, the parties announced an agreement in August this year.
The updated agreement reflects Switzerland's intention to strengthen its trade relations with China. The move comes as the European Union is considering increasing trade restrictions on Chinese goods.