Vice Minister of Commerce Yi Xiaozhun revealed on Monday that China and Switzerland will initiate a joint feasibility study on their bilateral free trade zone （FTZ）in the second half of this year, making preparation for the official launch of relevant negotiations.
At an industry exchange seminar for the China-Switzerland free trade zone held recently, Yi said that as countries worldwide are making joint efforts to fight the financial crisis and promote the rapid recovery of the world economy, the seminar for the China-Switzerland free trade zone held by the two countries is of great significance.
Bilateral trade between China and Switzerland has grown rapidly since 1978 when China carried out its reform and opening-up policy. In 2008, the bilateral trade volume reached 11.1 billion Swiss francs, a 30-fold increase compared with 1980. Since 2002, China has become Switzerland’s most important trade partner in Asia. The establishment of a free trade zone between the two countries will play an important role in boosting the development of bilateral trade and investment.
During the two-day industry exchange seminar, representatives from textile, machinery, clock and watch industries in China and Switzerland discussed issues such as the current situation of industries, development prospects as well as opportunities and adjustments that will be brought to each other’s industries by the establishment of a free trade zone.
By People's Daily Online
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