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Recognition of China as full market economy a historic step, says Swiss Federal Councilor |
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08:12, July 10, 2007 |
Swiss Federal Councilor Doris Leuthard said on Monday recognizing China as a full market economy is "a historic step" for Switzerland.
Leuthard, who is also head of the Federal Department of Economic Affairs, said her country recognizes the efforts China has made since it joined the World Trade Organization.
"China has made a number of market adjustments and its legal framework is moving in the right direction," said Leuthard. "We want to support and recognize the efforts made to date."
At present, China is the largest source of imports and the second largest export market in Asia for Switzerland. Bilateral trade totaled 6.77 billion U.S. dollars in 2006.
A free trade agreement is highly appropriate in this context, said Leuthard.
She called for more feasibility studies about the opportunities and risks relating to a free trade agreement. "We hope this can be done quite fast on both sides", she added.
Source: Xinhua
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