Switzerland and China sign pact granting rare market access

Switzerland and China will sign an upgraded trade agreement on Friday that grants Swiss firms unusually free access to the Chinese market. The deal stands out in a global environment where the United States and the European Union have recently erected new barriers to commerce.

Swiss President Guy Parmelin described the accord as a new step in bilateral relations. He stated that the outcome met the concrete expectations of Swiss companies and other stakeholders. "We have responded to the concrete expectations of our companies and other stakeholders," Parmelin said.

Chinese President Xi Jinping characterized the pact as a display of political courage. He argued that the agreement upholds open cooperation and can bring greater certainty to trade between China and Europe. Xi added that the deal supports global economic development.

The two nations announced the framework in August. That timing came one year after US President Donald Trump imposed the highest tariffs on Swiss exports from Europe. The new agreement positions Switzerland as a distinct case in current trade policy, offering a path for goods to enter China with fewer restrictions than those faced by other Western economies.

Parmelin expressed hope for a future strategic dialogue. He aims to hold the next meeting between the foreign affairs ministers of the two countries later this year. The signing ceremony is scheduled for Friday in Beijing, marking the formal conclusion of the negotiations.