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China and Switzerland signed a trade agreement machine tool industry or by the impact

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China and Switzerland signed a trade agreement machine tool industry or by the impact

Release date:2015-11-18 00:00 Source: Views:

CNC machine tool recently, the Chinese Ministry of Commerce Minister Gao Hucheng and the Swiss Federal Councilor and Minister of economy Oman - John Schneider in Beijing officially signed the China - Switzerland free trade agreement. This is the first free trade agreement signed by China and the European continent.

It is understood that the Sino Swiss FTA is a comprehensive, high level, high quality, mutual benefit and mutual agreement. First, the zero tariff rate of agreement. Switzerland will export to Switzerland 99.7% of the product immediately to implement zero tariff. China will export its products to China for 84.2% of its products to be zero tariff, of which 67% will be implemented immediately on the date of the agreement, and the other 5 are in the 17% to 10 years, the highest in 15 years to gradually implement zero tariff; 12.3% is to cancel 60% of the tariff in 10 years. In the future, the proportion of Switzerland to participate in tax reduction will be 99.99%, the Chinese side will be 96.5%, which greatly exceeds the general tariff level of 90% of the fta. Secondly, the agreement provides a platform for the docking and cooperation between the two industries. Third, the agreement involves the environment, labor and employment cooperation, intellectual property rights, government procurement information exchange, competition, and many new rules.

Before the signing, Chinese Assistant Minister of Commerce Yu Jianhua had explained that Chinese will according to the Swiss industry competition level and China industry capacity, industry of Chinese some less competitive through the provisions of the transitional period, part of the tariff reduction arrangements and 457 industrial products retained (such as machine tools, textile machinery, chemicals, automobile and pharmaceutical products, etc.) as an exception of the FTA products handled in three ways to protect.

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