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Home > News > Industry Activities > Free Trade Agreement Between China-Switzerland Offer Great opportunity to Chinese Fastener Industry

Free Trade Agreement Between China-Switzerland Offer Great opportunity to Chinese Fastener Industry

By CFM , 2014-05-04 12:00:00

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On April 29, China and Switzerland exchanged notes on enforcing the China-Switzerland Free Trade Agreement. According to relevant provisions, the agreement will come into effect officially on July 1, 2014.  Once the agreement comes into effect, 99.7% imported goods from China will be free from import tax. Among them, textile ,fastener and metal products will experience larger tax reduction.
 
The negotiations on the agreement was launched in January 2011. And a memorandum of understanding on finishing China-Switzerland FTA negotiations was signed during Chinese Premier Li Keqiang’s visit to Switzerland in May 2013. In July 2013, Minister of Commerce Gao Hucheng signed the agreement in Beijing with Johann Schneider-Ammann, Swiss federal councilor and head of the Swiss Federal Department of Economic Affairs on behalf of the two governments.
 
The agreement is believed to push China-Switzerland economic and trade cooperation to the next level. With the numerous serious antidumping rules against China in EU during execution, It is definitely a good chance for the Chinese export-oriented fastener manufacturers to find new market.

The texts of the agreement in Chinese, English and French languages have been released on China FTA Network (http://fta.mofcom.gov.cn).

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