BEIJING, Oct. 30 (Xinhua) -- China and Switzerland on Friday signed a protocol to upgrade their free trade agreement (FTA). The move is expected to expand market access, promote two-way investment, and deepen bilateral economic and trade cooperation, according to China's Ministry of Commerce.
Under the protocol, the two sides will make high-standard commitments to further opening up trade in goods, services and investment, while upgrading rules covering rules of origin, trade facilitation, technical barriers to trade, digital trade, competition, and trade and sustainable development.
The upgrade is expected to provide stronger institutional support for bilateral trade and investment liberalization and facilitation, said the ministry, adding that it underscores both countries' commitment to free trade, open cooperation and a rules-based multilateral trading system amid global uncertainties.
Switzerland is China's seventh-largest trading partner in Europe, while China is Switzerland's largest trading partner in Asia, an official with the ministry noted. Bilateral trade reached 49.04 billion U.S. dollars in 2025.
The official explained that the upgraded agreement would help unlock greater potential for bilateral trade and investment, and bring new opportunities to businesses and people in both countries.
China and Switzerland signed their original FTA in 2013, and the agreement entered into force in July 2014. The two countries launched negotiations to upgrade the agreement in September 2024 and announced their completion in August 2026, after five rounds of talks.
Following the signing, both sides will complete their respective domestic legal approval procedures and work to bring the upgraded agreement into force as soon as possible, the ministry said. ■
