FTA Agreement between China and Switzerland.

04.07.2014

Free Trade Area (FTA) Agreement between Switzerland and China is entering into force since the 1^st of July, 2014. This agreement is considered as the most important FTA agreement in Swiss international economic policy since the same agreement with European Union in 1972.

Comprehensive FTA agreement between Switzerland and China is entering into force almost one year after it was signed in Beijing on the 6^th of July, 2013. Representatives of Swiss business, especially exporters, keenly awaited for this day to come since the open access to the Chinese market gives them advantage in comparison with the business from other European countries, because they have not have the same access yet.

People’s Republic of China is the most important Swiss partner in Asia. The trade volume between two countries is more than 20 billions CHF. This puts China into the third place amongst Swiss trade partners – after EU and USA.

Source: https://www.news.admin.ch/message/index.html?lang=en&msg-id=53617

Expert’s opinion

Negotiations on the conclusion of this agreement have been in place since 2011. The agreement is beneficial to both countries that signed it. It is beneficial to Switzerland to have one of the biggest partners in Asia, and it is really a plus for China to have relations with one more European country. Free or preferential import of goods between these two countries will increase the trade volume and will promote development of economic relations and cooperation. Also the establishment of the free trade area will positively affect the investment links between Switzerland and China.

Anna Shevchenko ( Lawyer, Honest&Bright)