China and Switzerland concluded negotiations on August 20 for an expanded free-trade agreement that extends zero-tariff treatment to a broader range of products and deepens cooperation in areas such as e-commerce and green development. Bilateral trade reached approximately CHF 59 billion (roughly $74 billion) in 2023, with Swiss exports to China alone accounting for CHF 40.6 billion. China ranks as one of Switzerland’s three largest trading partners, trailing only the EU and the United States. The upgraded deal marks the most significant overhaul of the bilateral trade relationship since the original agreement took effect on July 1, 2014.
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