China, Switzerland upgrade FTA

President Xi Jinping and President of the Swiss Confederation Guy Parmelin witnessed on Friday the signing of an upgraded free trade agreement, demonstrating the two countries' commitment to upholding openness and cooperation amid unilateralism and protectionism, as well as their distinctive role in promoting an open world economy.

Parmelin started a three-day working visit to China on Friday. During their talks, Xi told the Swiss leader that Switzerland is an important partner of China in Europe and has consistently been at the forefront of cooperation between China and European countries.

Switzerland was the first country on the continent of Europe to sign an FTA with China in 2013. In August this year, it became the first European country to conclude negotiations on upgrading the agreement.

Xi said that bilateral free trade cooperation reflects the two countries' political courage and their sense of responsibility in upholding open cooperation.

China is ready to work with Switzerland to uphold openness, strengthen cooperation and promote an inclusive and universally beneficial economic globalization, Xi said. The two sides should inject valuable confidence and greater certainty into China-Europe economic and trade cooperation and into global economic development, he added.

Since the establishment of diplomatic relations in 1950, China and Switzerland have pursued cooperation based on mutual benefit and a pioneering spirit, achieving tangible results and demonstrating the principles of equality, innovation and win-win cooperation, Xi said.

They have set an example for relations between countries of different sizes and with different social systems, Xi said.

This year marks the 10th anniversary of the establishment of the China-Switzerland innovative strategic partnership, which is China's first strategic partnership with a foreign country centered on innovation.

Xi called on the two sides to deepen innovation cooperation and foster collaboration in emerging industries, including the digital economy, green energy storage and artificial intelligence.

Noting Switzerland's longstanding role in China-Europe economic and trade cooperation, Xi said he hopes that Switzerland will leverage its unique influence to play a positive role in promoting the sound, balanced and steady development of China-Europe trade.

Parmelin said that Switzerland takes pride in being among the first Western countries to recognize the People's Republic of China — a decision that laid the foundation for a lasting and dynamic partnership between the two countries.

He said the swift conclusion of negotiations on upgrading the FTA reflects the high level of mutual trust between the two countries and meets the expectations of businesses and other stakeholders on both sides.

The upgraded agreement will inject fresh impetus into the development of Switzerland-China relations, Parmelin added.

Data from the customs shows that China has remained Switzerland's third-largest trading partner for 12 consecutive years. The value of bilateral trade reached approximately $65.14 billion in the first half of 2026, registering substantial growth.

In an article published on Monday by People's Daily, Qian Minjian, China's ambassador to Switzerland, said that once the upgraded China-Switzerland FTA takes effect, over 99 percent of goods exported by one country to the other will be duty-free, while market access will be further expanded in the areas of trade in services and investment.

Feng Zhongping, a senior research fellow at the Chinese Academy of Social Sciences' Institute of European Studies, said the upgrading of the China-Switzerland FTA comes at a critical time when economic and trade relations between China and the European Union are facing considerable uncertainty, with trade frictions continuing to weigh on bilateral ties.

The upgraded FTA demonstrates the potential for China and European countries to achieve mutual benefit and shared development through cooperation, he added.

jihaisheng@chinadaily.com.cn