China-Singapore Finance, May 31. According to the news on the "Business Micro News" public account on the 31st, the Swiss media reported recently that the negotiations on the upgrade of the free trade agreement between Switzerland and China have been frozen.
In response, the Ministry of Commerce said, "There is no situation of being frozen, and the two sides are maintaining close communication on this."
According to the Ministry of Commerce, the China-Switzerland Free Trade Agreement was signed in July 2013 and came into effect in July 2014. It is a high-level, rich and mutually beneficial agreement that has played a positive role in promoting economic and trade cooperation and development between the two countries.
China has become Switzerland's third largest trading partner. In 2021, the bilateral trade volume between China and Switzerland will be US$44.11 billion, a year-on-year increase of 96.7%.
According to the Ministry of Commerce, China and Switzerland signed a memorandum of understanding in 2017, announcing the launch of a joint study on the upgrading of the free trade agreement to explore the possibility of further comprehensively upgrading the free trade agreement.
The China-Switzerland Free Trade Agreement is of a high level. The two sides are actively promoting joint research and conducting in-depth discussions on the scope of possible upgrades. There is no situation of being frozen, and the two sides are maintaining close communication on this.
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