China and Switzerland have signed a modernized upgrade of their 2014 free trade agreement in Beijing, with President Xi Jinping and Swiss President Guy Parmelin attending the ceremony. Under the deal, 99.8 percent of Swiss exports to China will eventually enter duty-free, up from roughly half previously, while tariffs will be removed on 97.3 percent of Chinese agricultural exports to Switzerland. Switzerland also gains broader access to China’s manufacturing-related services, aircraft maintenance and maritime transport markets.
This is an editorial summary written by Xinray Technology. All rights to the original report belong to The Local Switzerland.
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