Switzerland and China finalized negotiations on an updated free trade agreement that will remove tariffs on 99.8% of current Swiss exports to China, marking a major expansion of market access for Swiss goods effective immediately after formal ratification [1, 2, 3, 4]. The deal also enhances market access for Swiss investors in China and strengthens provisions on labor rights, environmental protection, and includes references to the Universal Declaration of Human Rights [1, 2, 4].
Key Swiss exports gaining full duty-free treatment under the updated agreement include watches, pharmaceuticals, and precision instruments, sectors critical to Switzerland’s export economy [1, 2, 3]. China is Switzerland’s third-largest trading partner after the European Union and the United States, with bilateral trade valued at about 34 billion Swiss francs ($54 billion Singapore dollars) in 2025 [1, 2, 4].
Negotiations to upgrade the China-Switzerland free trade agreement began in September 2024 and concluded yesterday, after five rounds aimed at updating terms to reflect changes in global trade and sustainable development standards [2, 4]. The original deal was signed in July 2013 and came into force in July 2014 [2, 4].
Chinese Commerce Minister Wang Wentao described Switzerland as "an important cooperation partner of China, with collaboration always at the forefront." He added that China’s Commerce Ministry is eager to complete formal signing and implementation of the upgraded agreement soon to enhance bilateral trade relations and better benefit businesses and people of both countries [2].
The formal signing of the updated agreement is planned before the end of 2026, after which Switzerland will proceed with its domestic approval processes [1, 2, 3, 4]. Meanwhile, Switzerland also reached a preliminary tariff cap agreement of 15% with the United States, though legal bindingness concerns remain with that deal [1, 3].
