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China, Switzerland Make Progress in FTA Talks: MOC

posted 17-February-2012

CRI, China

China, Switzerland Make Progress in FTA Talks: MOC

17 February 2012

Xinhua/China and Switzerland have made progress in the fourth round of bilateral talks on a possible free trade agreement (FTA), the Ministry of Commerce said Friday.

During the Feb. 14-16 talk, the two countries exchanged views on tax cuts, rules of origin and intellectual property rights, reaching a series of agreements on the issues, the ministry said in an online statement.

China and Switzerland formally launched bilateral FTA talks in January, launching three round of talks following the launch.

The two countries have seen fast-growing bilateral trade despite the effects of the global financial crisis and the eurozone debt crisis.

Trade between the two countries totaled 30.9 billion U.S. dollars in 2011, up 54 percent from a year earlier. China’s imports from Switzerland grew 60 percent to hit 27.2 billion U.S. dollars during the period, while exports rose 22 percent to 3.7 billion U.S. dollars.

China is currently Switzerland’s largest Asian trading partner, while Switzerland is China’s ninth-largest European trading partner.

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