Sino-Swiss FTA deal a springboard for China
- By Guo Xiaohong
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E-mail Chiina.org.cn, May 26, 2013
Switzerland will be China's springboard to enter the European market, said Ding Yifan, economist of China's State Council's Development Research Center, Saturday in Beijing.
The two countries signed a Memorandum of Understanding (MOU), after concluding negotiations on a bilateral free trade agreement (FTA), on Friday during China's Premier Li Keqiang's visit to Switzerland.
The deal between China and Switzerland shows Switzerland's acknowledgement of China's market economic status.
Switzerland has become the first continental European country and the first among the world's 20 largest economies to sign a free trade pact with China.
The deals between Switzerland and other European countries will also facilitate China's entry into the European market, said Ding.
China's FTA talks with Switzerland covered many areas and rules, and will set an important example or serve as a reference for China's future FTA talks with other countries. As a result, China will be more open economically.
China is also ready to help other countries through an open and free trade system, said Ding, when commenting on the Premier's remarks about China's willingness to share the advantages of its growth with its FTA partners.
Switzerland, a financial hub in Europe, has been the world's largest trade market for raw materials and energy, and the world's largest financial market, which can serve as guidance for China's financial reform.
The Sino-Swiss FTA deal offers great potential for the cooperation and exchange between the two countries, said Ding.
China is Switzerland's second largest trade partner in Asia while Switzerland is China's seventh largest trade partner and the sixth largest investor in Europe. The trade volume between the two countries hit US $26.3 billion in 2012.
