On October 30, Guy Parmelin, President of the Swiss Confederation and Head of the Federal Department of Economic Affairs, Education and Research (EAER), led a business delegation to MOFCOM, where he held talks with Minister of Commerce Wang Wentao. The two sides exchanged views on bilateral economic and trade relations, the free trade agreement (FTA) enhancement, and other issues.

Parmelin said China is Switzerland’s third-largest trading partner globally and its largest in Asia, and that Switzerland attaches great importance to economic and trade cooperation with China. Enhancing the FTA will elevate bilateral economic and trade relations to a new level and send a positive signal that the two countries jointly support the multilateral trading system with the WTO at its core. Switzerland firmly supports WTO reform and stands ready to strengthen communication and coordination with China within the WTO framework.

Wang Wentao said China and Switzerland are important economic and trading partners, and Switzerland’s cooperation with China is among the strongest among European countries. Under the strategic guidance of the leaders of both countries, the successful conclusion of FTA enhancement negotiations and the signing of the protocol open a new chapter for bilateral economic and trade relations. The FTA enhancement fully reflects the nature of China-Switzerland cooperation—complementary strengths and mutual benefit—and demonstrates the clear stance of both countries in upholding international economic and trade rules and supporting free trade, which is of great significance in the current international environment. China stands ready to work with Switzerland to expedite respective legal procedures and bring the enhancement protocol into effect at an early date, delivering tangible outcomes to businesses and people of both countries.

Swiss economic representatives said that they are optimistic about China’s economic prospect and the potential of its huge market. Taking the opportunity of the FTA enhancement, they stand ready to continue to increase their input in production and R&D in China, and deepen cooperation with Chinese partners in the pharmaceutical sector, machinery manufacturing, finance, watchmaking and green transition. (Released on October 31)