The head of the Department of International Affairs of the Ministry of Commerce explains the China-Switzerland Free Trade Agreement upgrade protocol. In terms of market access for goods trade, the two sides have reached a mutually beneficial and win-win high level of tariff concessions, which will further reduce the tariff level between the two countries on the basis of the original free trade agreement. According to the latest tariff concession arrangement, on the basis of the original agreement, China and Switzerland will each further reduce the tariff level for nearly 300 tariff lines, and eventually implement zero-tariff products covering more than 99% of the trade volume between the two sides. In terms of specific products, the Swiss side has already abolished all industrial tariffs in the original agreement. In the upgrade protocol, it will further drastically open up the agricultural products market by immediately implementing zero tariffs or partial tax cuts, and make its commitment to open up to the highest level of foreign liberalization. China's key products such as oilseeds, vegetable oil, and pet food will enter the Swiss market with more favorable tariff treatment. On the basis of the original agreement, the Chinese side will further grant preferential tariff treatment to Swiss products by immediately implementing zero tariffs or implementing zero tariffs during a 5- or 10-year transition period. Products exported to China, such as Swiss coffee, machine tools, and watches, will gradually abolish tariffs on the basis of partial tax cuts or no tax cuts under the original agreement.

The head of the Department of International Affairs of the Ministry of Commerce explains the China-Switzerland Free Trade Agreement upgrade protocol. In terms of market access for goods trade, the two sides have reached a mutually beneficial and win-win high level of tariff concessions, which will further reduce the tariff level between the two countries on the basis of the original free trade agreement. According to the latest tariff concession arrangement, on the basis of the original agreement, China and Switzerland will each further reduce the tariff level for nearly 300 tariff lines, and eventually implement zero-tariff products covering more than 99% of the trade volume between the two sides. In terms of specific products, the Swiss side has already abolished all industrial tariffs in the original agreement. In the upgrade protocol, it will further drastically open up the agricultural products market by immediately implementing zero tariffs or partial tax cuts, and make its commitment to open up to the highest level of foreign liberalization. China's key products such as oilseeds, vegetable oil, and pet food will enter the Swiss market with more favorable tariff treatment. On the basis of the original agreement, the Chinese side will further grant preferential tariff treatment to Swiss products by immediately implementing zero tariffs or implementing zero tariffs during a 5- or 10-year transition period. Products exported to China, such as Swiss coffee, machine tools, and watches, will gradually abolish tariffs on the basis of partial tax cuts or no tax cuts under the original agreement.