Ministry of Commerce: After the upgrade of the China Switzerland Free Trade Agreement, the proportion of zero tariff imports from both sides will exceed 99% On the afternoon of August 27th, the Ministry of Commerce held a regular press conference. According to media inquiries, China and Switzerland have recently completed negotiations to upgrade the China Switzerland Free Trade Agreement and signed a memorandum of understanding. Please introduce the relevant situation. How will we promote the deepening and implementation of China Switzerland economic and trade cooperation in the next step? In response, Huang Ling, spokesperson for the Ministry of Commerce, stated that according to the upgraded arrangement of the free trade agreement, China and Switzerland have made high-level bilateral opening-up commitments in areas such as goods, services, and investment. According to the introduction, in terms of goods trade, the final proportion of zero tariff imports for both sides exceeds 99%. At the same time, both sides have upgraded and improved the rules of origin, trade facilitation, and agreed to strengthen cooperation in standards and conformity assessment, which is conducive to promoting further development of bilateral trade. In terms of service trade and investment, the upgrading of the agreement is conducive to promoting China's productive service industry and other exports to Switzerland; Beneficial for providing high-level investment access and a more stable, transparent, and predictable business environment for both investors. At the same time, both sides will also carry out more extensive and in-depth cooperation in fields such as digital trade, artificial intelligence, sustainable development, supply chain, medicine, machinery industry, and watches. Huang Ling said that the successful upgrade of the China Switzerland Free Trade Agreement will create new opportunities for economic and trade cooperation between the two countries. In the current uncertain international environment, it demonstrates the fresh attitude of both sides in choosing certainty and supporting free trade, open cooperation, and a rule-based multilateral trading system. At present, both sides are stepping up their respective domestic procedures in order to officially sign the upgrade agreement as soon as possible, promote the implementation and effectiveness of the results as soon as possible, and benefit the enterprises and people of both countries as soon as possible. (Global Network)