The completion of negotiations to upgrade the China-Switzerland Free Trade Agreement will inject fresh momentum into bilateral trade and investment, reinforcing both countries' commitment to openness amid rising protectionism and global trade uncertainty, experts and business leaders said on Friday.
China and Switzerland concluded their negotiations to upgrade the FTA in Bern on Thursday, with Commerce Minister Wang Wentao and Swiss President Guy Parmelin signing a memorandum of understanding, according to a statement released by the Ministry of Commerce.
Parmelin, who also heads Switzerland's Department of Economic Affairs, Education and Research, said the move sends a positive signal for both sides to promote open cooperation and free trade and uphold a rules-based international economic and trade environment.
The two countries started negotiations in September 2024. After five rounds of talks, the upgraded agreement is set to provide a higher level of two-way opening-up in areas including trade in goods and services, rules for investment and trade, and the creation of new opportunities for bilateral economic and trade cooperation, said the ministry's statement.
Liu Zhiqin, a researcher specializing in international trade at Renmin University of China in Beijing, said the conclusion of the talks carries wider significance, showing that China and European economies can deepen mutually beneficial cooperation through dialogue and accommodate each other's concerns despite growing strains in the global trading system.
