China and Switzerland Photo: VCG

China and Switzerland held the first round of negotiations on upgrading the Sino-Swiss Free Trade Agreement (FTA) in Beijing from Tuesday to Thursday, said the Ministry of Commerce (MOFCOM).

The two sides conducted in-depth consultations on trade in goods and services, investment and rules of origin, competition, e-commerce, trade and the environment, as well as economic and technical cooperation, and achieved positive progress, according to MOFCOM.

China and Switzerland officially announced the launch of negotiations to upgrade the FTA agreement in September 2024, per the ministry's release.

The China-Switzerland FTA was signed in July 2013 and came into effect in July 2014. 

China's bilateral trade in goods with Switzerland reached $62.78 billion in 2024, up 5.5 percent year-on-year, data from a China-based research firm Huajing Industry Research Institute showed.

Global Times