The agreement was signed today after talks between Switzerland’s President Guy Parmelin and Chinese President Xi Jinping. Other agreements signed during the visit covered cooperation in labour and employment matters linked to the free trade agreement, and cooperation in research and development.
Switzerland and China today signed an optimised free trade agreement to ease trade and investment and improve Swiss goods and investment access.
It strengthens environmental and labour rules in a legally binding trade and sustainable development chapter.
Other deals cover labour and employment cooperation and research-data rules, as Parmelin leads a business and scientific delegation.
The two presidents welcomed the swift conclusion of negotiations on the optimised pact as support for the rules-based multilateral trading system centred on the World Trade Organization (WTO). They also pointed to earlier milestones in bilateral ties, including the establishment of diplomatic relations in 1950, China’s first free trade agreement with a European country in 2014, and the creation of an Innovative Strategic Partnership in 2016.
The optimised free trade agreement (FTA) strengthens environmental and labour protection provisions. The Swiss government said these provisions are set out for the first time in a legally binding chapter on trade and sustainable development in a Chinese free trade agreement, the Swiss government said in a press release.
Under the research and development agreement, the two countries aim to set rules for managing scientific data across borders. The arrangement is intended to allow Swiss researchers to exchange research data with Chinese counterparts within a secure legal framework.
The talks also covered bilateral relations and current international issues. Switzerland and China hold bilateral discussions across around 30 policy areas, while the latest round of their human rights dialogue took place in Bern on October 19 and 20. A technical-level exchange on the penal system was held in January, and global and regional security was also discussed.
Parmelin also said security and stability in Europe and East Asia are closely linked for both populations and economies. His programme through Saturday includes meetings with Minister of Commerce Wang Wentao, Minister of Human Resources and Social Security Wang Xiaoping, Minister of Education Huai Jinpeng, and Minister of Science and Technology Yin Hejun.
Meetings with leading business representatives from both countries and the opening of the 9th Sino-Swiss Economic Forum are also planned. A business and scientific delegation is accompanying Parmelin on the trip.
Fibre2Fashion News Desk (SG)
