China–Switzerland Free Trade Agreement Announced A Tax Cut on China exports

China - Switzerland Free Trade Agreement will take effect in this July, with a tax cut policy on China exports like Textile and Apparel products, which is really a good news for Swiss dealers importing from China.

On Apr. 30th, the Swiss Federal Department of Economic Affairs, Education and Research (EAER) announced a completion of internal examination and approval procedure of  China - Switzerland Free Trade Agreement, which will take effect since July 1.

EAER declared in a written statement the same day that the Agreement will bring improved market access for goods and services, enhanced legal protection of intellectual property and bilateral relations, and all or part of tariff elimination in most economic and trade areas.

After two years' negotiation, the two countries officially signed the Agreement, which is also the first free trade agreement between China and the European Continental nations.  In last December and this March, the Swiss Federal Council Adopted the Agreement. 

• China's Ministry of Commerce consider the Agreement a most high-level and comprehensive one in recent years, which offers not only tariff- free policy on high proportion of Swiss and China export goods, but also establishment of a favorable mechanism for cooperation in areas like watch industry.  The newly released regulations on environment and intellectual property will also raise up the level of economic and trade cooperation between China and Europe.
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• Once the Agreement is in operation,  the Swiss side will immediately implement a tariff-free policy on 99.7% of China export commodities, and the Chinese side will do the same on 84.2% of Swiss export commodities. If coupled with the tariff reducing products, the proportion of Swiss products enjoying the advantage of the agreement is up to 99.99%, and Chinese exports to 96.5%.   
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Textiles, clothing, footwear, auto parts and metal products are main products Swiss dealers importing from China, and the Swiss side has promised an immediate implementation of tariff-free policy since the day the Agreement coming into effect.   


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www.e-cantonfair.com