China, Switzerland Agree to New Trade Deal Scrapping Most Levies
The updated pact would let 99.8% of Swiss exports enter China duty free and expand coverage beyond the 2014 agreement.
- On Thursday, Swiss President Guy Parmelin and Commerce Minister Wang Wentao announced completion of negotiations for an updated free trade agreement, increasing Swiss market access to China, the country's third-largest trading partner.
- The updated accord upgrades the 2014 free trade agreement, which was Beijing's first such deal with an economy in continental Europe, expanding on terms that previously covered only about half of Swiss exports.
- New provisions include a first-time reference to the Universal Declaration of Human Rights and stricter labor and environmental standards, while key sectors like watches, pharmaceuticals, and precision instruments gain full duty-free access.
- Following legal review completion, officials plan to sign the treaty before year-end; the announcement lifted Swiss stocks including Swatch Group and Richemont as markets reacted positively to expanded Chinese market access.
- The agreement offers stability for Switzerland's export-oriented economy amid ongoing risks from United States trade policy, which previously included a 39% levy imposed by the Trump administration on Swiss goods.
15 Articles
15 Articles
Switzerland wants to sign an extended trade agreement with China this year. 99.8% of imports into the People's Republic are then to be duty-free.
The negotiations to modernise the free trade agreement with China have resulted in significant progress, including on the environment and human rights, according to the Swiss negotiators. The right applauds. The left asks to see the concrete applications. The Greens are ready for the referendum if necessary Following a meeting with Chinese Trade Minister Wang Wentao on Thursday in Bern, Guy Parmelin's services announced by means of a communiqué …
Switzerland and China have optimised their free trade agreement. Swiss exports are expected to enter the Chinese market duty-free in the future.
Swiss and Chinese reach agreement on updated free trade deal
Switzerland and China have reached an agreement on new trade arrangements. They have agreed that Swiss exports to China will be almost entirely exempt from import duties, the Swiss government announced. China is Switzerland's third most important trading partner, after the EU and the United States.
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