Trade Agreement China Switzerland

The implementation and implementation of the agreement embodies the determination and confidence of both sides to strengthen economic and trade relations, reflecting the Determination and Confidence of the Chinese Government to open up and open up unfailingly. It also reflects China`s active participation in economic globalization and regional economic integration. Determination and trust. The free trade agreement first defines certain principles that Switzerland and China must respect. The two countries are particularly committed to the following topics: Update: Swiss-China Free Trade Agreement: Direct Transport Switzerland and Iceland are the only two high-income economies outside the Chinese neighbourhood to currently have a comprehensive trade agreement with China. Although modest, the CSFTA has been touted as a milestone, with Swiss supporters calling it their most important agreement since the 1972 free trade agreement with the EU. Switzerland`s exports to China are dominated by jewellery, which accounted for 60% of the total in 2018 and is highly volatile. Swiss jewellery exports to China increased between 2010 and 2013, with an average annual rate of 221 per cent, and slowed considerably between 2014 and 2019 to 2.7 per cent per year. The slowdown occurred despite tariff reductions for gold and jewellery products under the CSFTA and the total elimination of tariffs on many of these items. A severe crackdown on corruption in China could be responsible for these trends, as gifts of Swiss jewellery and watches are believed to be a common form of corruption in China. The decline in these exports from Switzerland to China is mainly due to slowing exports and volatility.

On the other hand, drug exports, which accounted for 20% of Swiss exports to China in 2019, have grown at an annual rate of 16.4% since the free trade agreement came into force (2014-19). In this context, EU jewellery exports grew faster after the Sino-Swiss agreement than before the agreement, which could support the fight against corruption in Switzerland. However, EU pharmaceutical exports slowed sharply after the CSFTA, indicating that there may have been some reorientation of trade. The “agreement” is one of the highest and most comprehensive free trade agreements in China in recent years. Not only does it have a significant share of zero tariffs in the trade in goods, but also a good mechanism for cooperation between the watch and other sectors, including environmental and intellectual property rights. Many other new rules will further improve bilateral economic and trade cooperation and strengthen economic and trade cooperation between the Sino-EU. China`s concessions under the CSFTA in the area of financial services and insurance services – another important interest of Switzerland and the EU – are weak. In the area of insurance, there are no additional concessions to China`s accession protocol, although there is greater specificity in the provision of activities authorized by the Chinese branches of Swiss companies.

With regard to financial services, additional concessions apply only to securities trading, allowing Swiss companies to act on behalf of qualified institutional investors (QDII) in China, provide advisory services and provide childcare abroad.

VN:F [1.9.20_1166]
Rating: 0.0/5 (0 votes cast)
VN:F [1.9.20_1166]
Rating: 0 (from 0 votes)

Comments are closed.