China-Switzerland FTA a "strong signal" against protectionism: premier (2)

（Xinhua）  10:18, July 07, 2013  

Schneider-Ammann, also head of the Swiss Federal Department of Economic Affairs, said the signing of the FTA is a historic moment.

He said Switzerland will grasp opportunities arising from the pact to upgrade the cooperation of the two countries.

China is Switzerland's largest trading partner in Asia, while Switzerland is China's eighth-largest trading partner in Europe, according to official Chinese data.

Once the FTA goes into effect, as much as 99.7 percent of Chinese exports to Switzerland will be immediately exempted from tariffs, while 84.2 percent of Swiss exports to China will eventually receive zero tariff.

The deal is also expected to facilitate industrial cooperation between both countries and set new rules in the areas of environment, labor, intellectual property and government procurement.