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Nearly all Swiss exports to China will become duty-free under an updated free trade agreement, after negotiators from both countries concluded talks in Bern, Switzerland's Federal Department of Economic Affairs, Education and Research announced.
Swiss Federal President and Economy Minister Guy Parmelin and Chinese Commerce Minister Wang Wentao finalized the revised agreement, which is expected to be signed before the end of the year, Swissinfo reported Thursday.
Under the updated terms, 99.8% of current Swiss exports to China will enter the Chinese market without tariffs once phase-out periods are completed, according to the department. That marks a sharp increase from the existing agreement, under which just over half of Swiss exports currently qualify for duty-free treatment.
The revised deal also aims to improve market access for Swiss investors operating in China, while strengthening provisions related to environmental protection and labor rights, the department said.
Beyond tariff reductions, the updated agreement introduces new rules governing trade in services, digital trade, and competition policy. It also revises provisions on rules of origin, trade facilitation, and economic and technical cooperation between the two countries, according to the Swiss government.
The negotiations to modernize the agreement began in 2024 and concluded after five rounds of talks. They build on a free trade agreement that has been in place between Switzerland and China since 2014, one of the earliest such deals China signed with a major Western European economy.
China remains Switzerland's third-largest trading partner, ranking behind the European Union and the United States.
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