China and Switzerland Sign Trade Deal With 99.8% Duty-Free Access
The updated accord gives 99.8% of Swiss exports duty-free access to China and expands Swiss market access in services and manufacturing-related sectors.
- On Friday, Chinese President Xi Jinping and Swiss President Guy Parmelin meet in Beijing to sign a trade agreement granting 99.8% of Swiss exports duty-free access to China, marking one of the most favorable deals Beijing has granted a European country.
- The accord provides stability for export-dependent Switzerland amidst a global shift toward protectionism, while China seeks to project an internationalist image as the United States retreats from multilateralism under its America First policies.
- Senior Swiss trade official Roger Gschwend said, "It's China sending a signal they are opening up their markets a bit more." Switzerland last November reduced US tariffs on its exports from 39% to 15%.
- US officials sought to discuss the accord with Swiss colleagues, according to two people familiar with the matter, while observers warn Switzerland must remain cautious about being "caught in crossfire between the European Union and China."
- Officials emphasize the agreement tackles imbalances in previous accords rather than granting new industrial tariff benefits, aiming to foster a level playing field for Swiss enterprises without impacting bilateral trade with other partners.
27 Articles
27 Articles
Swiss products will reach the Chinese market more easily after the expansion of a major trade agreement between the two countries. The agreement provides for the elimination of customs duties for almost all Swiss exports to China.
China's President Xi welcomes Swiss President Guy Parmelin in Beijing
Chinese President Xi Jinping noted to Swiss President Guy Parmelin on Friday (October 30) that their upgraded trade agreement demonstrates political courage and a commitment to open cooperation.Xi noted that both nations can boost confidence and...
On an official visit to Beijing, the President of the Confederation Guy Parmelin signed this Friday a revised agreement with Xi Jinping. The text provides for the elimination of customs duties on 99.8% of Swiss exports in ten years, compared to just half todayIt floated like a scent of relief this Friday in the gardens of the Swiss Embassy, near the Liangma River, in Beijing. The entire delegation celebrated the signing of the revision of the fr…
Xi welcomes visiting German, Swiss presidents
China has always viewed the European Union as a partner and is committed to developing China-EU relations with sincerity and goodwill, President Xi Jinping told German President Frank-Walter Steinmeier during talks in Beijing on Friday. History and reality have repeatedly shown that for China and the EU, cooperation outweighs competition and consensus outweighs differences, Xi said. He added that as long as both China and the EU stay committed …
Two SVP heavyweights accompany the Federal President. The modernised free trade agreement is supposed to make almost all Swiss exports duty-free – but resistance from the left is already threatening.
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