China actually makes great progress in global trade as China and
Switzerland signed free trade agreement last week. On Saturday, China and Switzerland signed a
free trade agreement (FTA) in Beijing, capping over two years of negotiations
and legal processes. This means China
continues to enourage its import & export trade.
Under
such circumstance, Henan Sinx Tech Ltd. bulit a new type bilingual B2B website
http://www.chinainout.com with the hope to introduce large numbers of global
enterprises to China mainland so as to make contributions to Chinese import
& export trade.
The pact was signed between Chinese Commerce
Minister Gao Hucheng and Swiss Federal Councillor Johann Schneider-Ammann.
It is the first free trade pact inked between
China and a country in continental Europe.
Gao described the FTA as a comprehensive,
high-quality and mutually beneficial agreement at a news conference held after
the signing.
Once the FTA goes into effect, as much as 99.7
percent of Chinese exports to Switzerland will be immediately exempted from
tariffs, while 84.2 percent of Swiss exports to China will eventually receive
zero tariff.
The scope of tariff reductions under the
deal, which will cover 99.99 percent of Swiss exports to China and 96.5 percent
of Chinese exports to Switzerland, exceeded the 90-percent level of an average
FTA, Gao said.
The deal is also expected to facilitate
industrial cooperation between both countries and set new rules in the areas of
environment, labor, intellectual property and government procurement, according
to Gao.
Schneider-Ammann, head of the Swiss Federal
Department of Economic Affairs, said the FTA will inject vitality into
bilateral economic and trade ties.
Under the deal, Swiss enterprises' access to
the Chinese market will be better protected on the basis of existing laws, said
Schneider-Ammann.
The two sides also noted that before the
just-signed FTA can go into effect, some domestic procedures in both countries
will need to be completed.
Statistics show that the bilateral trade
volume between China and Switzerland reached $26.31 billion in 2012. The figure
for the first five months of this year surged to $22.89 billion, 114.2 percent
higher than the same period last year.
China is Switzerland's largest trading
partner in Asia, while Switzerland is China's eighth-largest trading partner in
Europe, according to official Chinese data.
