The negotiations will include the Ministry of Foreign Affairs and the Ministry of Finance on the Japanese side and the Federal Department of Foreign Affairs and the Federal Tax Administration on the Swiss side. This will be the first round of negotiations for the revision of the treaty since it was concluded in 1971.

In addition to this, on September 29 of this year, the two countries confirmed that agreement in principle had been reached on the Agreement on Free Trade and Economic Partnership (EPA).

The negotiations were launched by Mr Shinzo Abe, then Prime Minister of Japan, and Ms Micheline Calmy-Rey, then President of the Swiss Confederation, in January 2007. The leaders highlighted the importance of rule-making and strengthening of economic ties between the two countries in various fields such as trade in goods, trade in services, investment and intellectual property.

On this basis, the delegation of Japan and the delegation of Switzerland held a total of eight rounds of negotiations in Japan and Switzerland alternately since the first round in May 2007, and made steady progress through intensive discussions.

Both sides have welcomed the agreement in principle and confirmed that they will work to finalise and sign the accord as soon as possible.

Under the trade agreement, both sides have agreed to eliminate or reduce tariffs on industrial, agricultural, forestry and fishery products comprehensively. In addition, the agreement contains provisions on non-tariff measures.