CONTINUEThis site uses cookies. By continuing to browse this site you are agreeing to our use of cookies. Find out more.
  1. Front Page
  2. News By Topic
  3. Swiss Upper House Passes China FTA

Swiss Upper House Passes China FTA

by Ulrika Lomas,, Brussels

25 March 2014

The Swiss Council of States has adopted the Free Trade Agreement (FTA) with China, signed in Beijing on July 6, 2013. The upper house waved through the deal by 25 votes to 3, with 11 abstentions.

Swiss business federation Economiesuisse said the FTA would strengthen economic ties between Switzerland and China through the removal of customs duties and technical barriers to trade. Given the importance of China in the global economy, the agreement will add to Switzerland's export potential and significantly strengthen the Swiss financial center, it noted.

The network of agreements with China covers trade in goods and services, the protection of intellectual property, competition, the promotion of investments, and commercial and environmental issues linked to trade, Economiesuisse noted. The accord is a milestone in Switzerland's foreign economic policy, and gives a clear signal against protectionism in favor of the liberalization of markets, the industry association concluded.

China is the world's second largest economy and Switzerland's third main trading partner. Last year, Swiss exports to China were up 11.9 percent on the previous year, reaching about CHF8.8bn (USD10bn). Imports totaled approximately CHF11.5bn, reflecting a clear upward trend.

The Swiss business industry is hopeful that the accord will enter into force in July.

TAGS: environment | investment | business | free trade agreement (FTA) | intellectual property | China | excise duty | agreements | Switzerland | trade | services

To see today's news, click here.


Tax-News Reviews

Cyprus Review

A review and forecast of Cyprus's international business, legal and investment climate.

Visit Cyprus Review »

Malta Review

A review and forecast of Malta's international business, legal and investment climate.

Visit Malta Review »

Jersey Review

A review and forecast of Jersey's international business, legal and investment climate.

Visit Jersey Review »

Budget Review

A review of the latest budget news and government financial statements from around the world.

Visit Budget Review »

Stay Updated

Please enter your email address to join the mailing list. View previous newsletters.

By subscribing to our newsletter service, you agree to our Terms and Conditions and Privacy Policy.

To manage your mailing list preferences, please click here »