New free trade agreement with China by 2025, according to Aeschi
Keystone-SDA
The enhanced free trade agreement between Switzerland and China is set to enter into force in 2025. This is the assumption of parliamentarian Thomas Aeschi, president of the EU-EFTA delegation. He will be in China with Swiss parliamentarians until Saturday.
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Bern wants to revise the modalities of the agreement, in particular the export of its products, which is still heavily taxed. A new agreement should be reached within the next 12 months, Aeschi told the Swiss News Agency Keystone-SDA on Thursday.
Switzerland and China officially launched the resumption of negotiations on the free trade agreement signed in 2014 in September. In particular, Switzerland wants to review the tariff concessions for the products it exports. For example, millions in customs duties are still being paid on Swiss watches that are shipped to China.
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China, for its part, wants Swiss investment to continue and more Swiss companies to set up in China, said Aeschi. The delegation’s trip was a preparation for concrete negotiations between the two parties, who have so far only met virtually.
This made the meeting with Deputy Minister of Commerce Wang Shouwen all the more important. With a trade volume of CHF33 billion ($37.5 billion), China is Switzerland’s third most important trading partner.
The Swiss parliamentarians’ programme in Beijing also includes a courtesy visit to the Vice Chairman of the National People’s Congress, Xiao Jie.
Translated from German by DeepL/ts
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