Switzerland, China agree on a trade deal giving 99.8% of Swiss exports duty-free access to Beijing
China and Switzerland have concluded negotiations on an updated trade agreement that will give 99.8% of Swiss exports duty-free access to China. The deal also expands market access for Swiss investors and strengthens cooperation on labour, environmental and trade issues.
Switzerland and China have reached a trade deal that will provide nearly all Swiss exports duty-free access to the Chinese market, according to the Swiss government. This agreement, which finalizes years of negotiations, grants 99.8% of Swiss exports duty-free access to China, while also improving access for Swiss investors in China.
Key Swiss exports such as watches, pharmaceuticals, and precision instruments will be completely exempt from tariffs. The deal also covers rules of origin, trade facilitation, trade in services, digital trade, competition, and economic and technical cooperation. Additionally, China has agreed to stricter labor rights and environmental rules, and for the first time, a reference to the Universal Declaration of Human Rights has been included in the sustainability chapter of the agreement.
The formal signing of the new trade agreement is expected before the end of the year, following domestic approval processes.
Written by urgent.news from Live Mint's reporting — not their text. Machine-written — may contain errors; check the original before relying on it.
