China and Switzerland formally launched bilateral negotiation on a free trade agreement on January 28 at Davos. Chinese Minister of Commerce Chen Deming and Swiss Economy Minister Johann Schneider-Ammann attended the launch ceremony, and signed MOU on Launching China-Switzerland FTA Negotiation.
Chen said, the establishment of FTA is highly concerned by the leaders and the business community of the two sides, also a big event on the history of the bilateral relations. The promotion of the establishment of FTA will further strengthen the mutual political trust between the two sides, significantly enhance the bilateral trade and economic cooperation, and create many new opportunities for the cooperation between the two sides.
Chen pointed out that, in recent years, the sound development momentum of China-Switzerland bilateral trade has laid a solid foundation for FTA establishment. In the past 10 years, China's exports to Switzerland have grown by 18 percent while Switzerland registered 25 percent up in exports to China; Switzerland’s export to China has increased from a share of 1.2% to 3.6%. Currently, Switzerland ranks ninth among China's trading partners in Europe, while China is the largest trading partner of Switzerland in Asia. The two-way investment has been developing steadily. Switzerland is China’s 6th largest investment source in Europe, and China is also increasing investment in Switzerland. As both countries enjoy resource advantage, industries and trade structure are complementary, the bilateral trade and the two-way investment must expand by large margin after the establishment of FTA.
Chen stated that, after the launch of the negotiation, the two sides will map out the work outline about FTA negotiation, the bid and offer in the fields of trade in goods, trade in services, and economic and technological cooperation, and exchanged in-depth views on issues such as rules of origin. China would like to, together with the Swiss side, based on proactive, practical and high-efficient principle, carry out related work, so as to realize the early establishment of the Free Trade Area.
Ammann said, the economies of Switzerland and China are highly complementary, with huge cooperation potential. The launch of the negotiation is of great historical significance, and can effectively promote the trade and investment of the two sides. Switzerland hopes to closely cooperate with China to advance the process of the negotiation, so as to realize a free trade agreement involving trade in goods, trade in services, IPR protection, investment facilitation, energy, environmental protection, etc.
Before the opening ceremony, Chen Deming and Ammann held talks. Wu Ken, China’s ambassador to Switzerland, Yi Xiaozhun, Ambassador to the WTO, Yu Jianhua, Assistant Minister of Ministry of Commerce attended related activities.
