Ministry of Commerce: China and Switzerland will actively deepen cooperation in emerging areas such as digital trade

China News Service, November 5. At a regular press conference held by the Ministry of Commerce on the afternoon of the 5th, Ministry of Commerce spokesperson Huang Ling said that on October 30, China and Switzerland signed a free trade agreement upgrade protocol in Beijing. In the next step, both parties will implement their respective domestic procedures and promote the early entry into force and implementation of the protocol.

Huang Ling introduced that after the protocol takes effect, both parties will achieve a higher level of market access in specific areas such as goods, services, and investment. The products ultimately implemented by both sides with zero tariffs can cover more than 99% of bilateral trade volume. Swiss coffee, machine tools, watches, medical and other products will have broader market prospects in China. Chinese sunflower seeds and other oil-containing kernels, vegetable oil, pet food and other products will also enter the Swiss market with more preferential tariff treatment. The Swedish side has made a number of new commitments in the fields of movement of natural persons, traditional Chinese medicine, and equipment repair and maintenance. China has opened up manufacturing-related services and professional design departments to the Swedish side, and has made high-level commitments in the fields of finance, shipping, and air transport.

The protocol also further optimizes relevant rules, and the two sides will actively deepen cooperation in emerging areas such as digital trade, competition, trade and sustainable development.

The signing of the protocol fully demonstrates the certainty of choice and the clear attitude of both parties in supporting free trade, and has important demonstration significance for countries to jointly respond to international economic and trade challenges.