Arab Today, arab today china switzerland free trade deal enters into force
Last Updated : GMT 19:32:26
Arab Today, arab today
Arab Today, arab today

China, Switzerland free trade deal enters into force

Arab Today, arab today

Arab Today, arab today China, Switzerland free trade deal enters into force

Trade deal between China and Switzerland
Basel - XINHUA

With the witness of first tariff-free goods landed and left Swiss northwestern Rhine port of Basel,the Free Trade Agreement (FTA) between China and Switzerland entered into force on Tuesday.
The FTA, signed in Beijing on July 6, 2013, after nine rounds of negotiations of more than two years, is the first free trade pact inked between China and a country in continental Europe.
China's ambassador to the World Trade Organization Yu Jianhua, Swiss Federal Councilor Johann Schneider-Ammann joined a celebrating ceremony held in the Rhine port in Basel, a place that best represents Switzerland's gateway to the world.
According to the FTA, 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 tariffs.
The scope of tariff exemptions under the deal will cover 89 percent of Swiss exports to China and 92 percent of Chinese exports to Switzerland, and the scope of tariff reductions will exceed 96 percent of trade between the two countries.
"The vast majority of industrial and agricultural goods exported from Switzerland will enjoy tariff concession, some with immediate effect, some after a period of transition. This means that Swiss products will become considerably more competitive over the short and medium term," Schneider-Ammann told a press conference.
He stressed both sides will benefit from this agreement, as it will help to create and secure jobs in both countries.
"In return, Chinese industrial products will have duty-free access to the Swiss market," he said.
"Switzerland is looking for big market, while China is looking for the quality of economy, this is the perfect combination of big market and good quality," said ambassador Yu, who also served as the chief negotiator for FTA negotiations.
Director General of Swiss Customs Rudolf Dietrich said customs duty savings can provide a decisive competitive advantage compared to competitors from countries which have no agreement with China.
He called on Swiss companies, especially small and medium-sized enterprises to use the free trade agreement.
The main products exported by Switzerland to China include machines and instruments, watches, chemical and pharmaceutical products. Swiss imports from China include machinery, textiles and clothing, watchmaking and chemical products.

arabstoday
arabstoday

Name *

E-mail *

Comment Title*

Comment *

: Characters Left

Mandatory *

Terms of use

Publishing Terms: Not to offend the author, or to persons or sanctities or attacking religions or divine self. And stay away from sectarian and racial incitement and insults.

I agree with the Terms of Use

Security Code*

Arab Today, arab today china switzerland free trade deal enters into force Arab Today, arab today china switzerland free trade deal enters into force

 



Name *

E-mail *

Comment Title*

Comment *

: Characters Left

Mandatory *

Terms of use

Publishing Terms: Not to offend the author, or to persons or sanctities or attacking religions or divine self. And stay away from sectarian and racial incitement and insults.

I agree with the Terms of Use

Security Code*

Arab Today, arab today china switzerland free trade deal enters into force Arab Today, arab today china switzerland free trade deal enters into force

 



Arab Today, arab today
Arab Today, arab today Designer Aql Faqih aspires to innovation

GMT 18:41 2017 Friday ,20 October

Designer Aql Faqih aspires to innovation
Arab Today, arab today Malaysia Airlines picks new CEO

GMT 12:54 2017 Saturday ,21 October

Malaysia Airlines picks new CEO
Arab Today, arab today Etiquette expert underlines importance of gifts

GMT 17:52 2017 Sunday ,03 September

Etiquette expert underlines importance of gifts
Arab Today, arab today Residents get glimpse of Raqa in ruins

GMT 07:10 2017 Saturday ,21 October

Residents get glimpse of Raqa in ruins
Arab Today, arab today Hiring not part of Alibaba pledge

GMT 11:26 2017 Wednesday ,18 October

Hiring not part of Alibaba pledge
Arab Today, arab today
Arab Today, arab today
Arab Today, arab today World's deepest lake in peril

GMT 15:54 2017 Friday ,20 October

World's deepest lake in peril
Arab Today, arab today Ex-French minister Dati wants tough action

GMT 10:54 2017 Thursday ,19 October

Ex-French minister Dati wants tough action
Arab Today, arab today Delhi braces for pollution 'airpocalypse'

GMT 16:07 2017 Friday ,20 October

Delhi braces for pollution 'airpocalypse'
Arab Today, arab today The history of solar eclipses

GMT 05:16 2017 Sunday ,20 August

The history of solar eclipses
Arab Today, arab today EU raids automaker BMW

GMT 11:06 2017 Saturday ,21 October

EU raids automaker BMW
Arab Today, arab today Sweden to get biggest car factory

GMT 14:10 2017 Friday ,20 October

Sweden to get biggest car factory
Arab Today, arab today Actress Mona Zaki praises husband’s role

GMT 08:15 2017 Thursday ,19 October

Actress Mona Zaki praises husband’s role
Arab Today, arab today Massacre fears spark race

GMT 19:09 2017 Thursday ,19 October

Massacre fears spark race

GMT 08:57 2017 Wednesday ,18 October

Actress Shery Adel happy for Egypt’s qualification

GMT 18:15 2017 Monday ,16 October

British actress becomes fifth woman

GMT 16:53 2017 Tuesday ,05 September

Youssra depended on colored foam

GMT 16:00 2017 Wednesday ,18 October

Climate-disrupting volcanoes helped topple

GMT 10:46 2017 Saturday ,05 August

Nanis reveals simple ideas for home renovation

GMT 09:56 2017 Friday ,20 October

Privacy Groups Warn of Perils

GMT 08:04 2017 Thursday ,19 October

Second US judge orders freeze

GMT 17:12 2017 Monday ,07 August

Al-Shawaifi reveals secrets of total solar eclipse

GMT 20:46 2017 Thursday ,19 October

Qualcomm files lawsuits in China to ban iPhones

GMT 16:53 2017 Saturday ,02 September

Mai importance of gifts during Eid Al-Adha
Arab Today, arab today
Arab Today, arab today
 
 Arab Today Facebook,arab today facebook  Arab Today Twitter,arab today twitter Arab Today Rss,arab today rss  Arab Today Youtube,arab today youtube  Arab Today Youtube,arab today youtube
arabstoday arabstoday arabstoday arabstoday
arabstoday arabstoday arabstoday
arabstoday
بناية النخيل - رأس النبع _ خلف السفارة الفرنسية _بيروت - لبنان
arabstoday, Arabstoday, Arabstoday