Swiss President Paumlan led a delegation of Swiss business leaders to China on 30 October 2026, meeting with Commerce Minister Wang Wentao at the Ministry of Commerce in Beijing. The talks focused on the upgrade of the Swiss‑Chinese Free Trade Agreement (FTA) and broader economic cooperation. During the meeting, Paumlan highlighted that China is Switzerland’s third‑largest trading partner worldwide and its largest partner in Asia. He said the upgrade of the FTA would “push bilateral economic relations to a new level” and send a “positive signal that both countries support a WTO‑based multilateral trading system.” Paumlan also expressed Switzerland’s willingness to strengthen communication and coordination with China within the WTO framework. Minister Wang emphasized that China and Switzerland are important partners and that the upgraded FTA reflects the complementary strengths and win‑win nature of the relationship. He noted that the agreement demonstrates both countries’ commitment to international trade rules and free trade, which is particularly significant in the current global environment. Wang said China was ready to work with Switzerland to accelerate the necessary legal procedures so that the upgraded agreement could take effect as soon as possible. Swiss business representatives welcomed the upgrade and said they see China’s large market and strong economic prospects as an opportunity to expand production and research‑and‑development activities in the country. They also expressed a desire to deepen cooperation with Chinese partners in pharmaceuticals, machinery manufacturing, finance, watchmaking, and green transition. Later that afternoon, President Xi Jinping met with Paumlan at the Great Hall of the People. The two leaders jointly witnessed the signing of the upgraded FTA agreement. The Chinese Ministry of Commerce stated that the new agreement will build on the original FTA, committing both sides to high‑level openness for goods, services, and investment. It will also further upgrade rules on origin, trade facilitation, technical barriers to trade, digital trade, competition, and the intersection of trade and sustainable development. The original Swiss‑Chinese FTA was signed in 2013 and entered into force in July 2014. Negotiations for the upgrade began in September 2024, and after five rounds of talks, the parties announced the completion of negotiations in August 2026.
Article source: United Daily News | Image credit: United Daily News