China And Switzerland Explore Free Trade Deal

by Mary Swire, Tax-News.com, Hong Kong

10 July 2007

At her meeting in Beijing on Sunday with the Chinese Minister of Commerce Bo Xilai, Swiss Federal Councillor Doris Leuthard signed a joint declaration on economic cooperation.

The document strengthens relations between both countries on trade, investment and intellectual property rights.

The meeting also saw Switzerland officially endorsing China as a market economy.

At their meeting in Beijing, the Head of the Federal Department of Economic Affairs and the Chinese Minister of Commerce decided to conduct internal feasibility studies towards a possible free trade agreement. These studies will show whether the conditions are in place for a free trade agreement between the two countries at some point in the future.

The two ministers have also decided to bolster the protection and enforcement of intellectual property rights (IPR) by setting up a regular dialogue, through a working group consisting of representatives of their administrations and industry or business associations.

The mandate of the working group is to find solutions, and advance dialogue on institutional and legislative aspects of IPR and their enforcement. Switzerland and China also reaffirmed their reciprocal obligations under the WTO agreement on Trade related Aspects of Intellectual Property Rights (TRIPS).

The ministers have additionally decided to set up a bilateral working group to promote investment. This working group will have the goals of assisting Swiss businesses investing in China and of attracting Chinese investors to Switzerland.

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