China signs free trade agreement with Switzerland!

July 06, 2013 16:32
China signs free trade agreement with Switzerland!

China signed free trade agreement (FTA) along with Switzerland on Saturday. The impact of the trade agreement happens to be Beijing's first in continental Europe takes into action in a deal that comes against a background of trade related emotional strain between the Asian giant along accompanied by the European Union.


Furthermore, Chinese Commerce Minister Gao Hucheng and Swiss Economy Minister Johann Schneider-Ammann inked the harmony in a ceremony at the Commerce Ministry in Beijing in precedence of the officials along with reporters. Subsequently, they rung with sound in glasses of champagne while celebration of the agreement, which intends to extend the US$26.3 billion (S$33.8 billion) in bilateral trade they recorded last year.


In fact, China in April signed its first FTA along with a European country that's non-EU member Iceland on the contrary Saturday's deal gives a visible impression of the first accompanying an economy in mainland Europe. As matter of actuality, according to the World Bank, China is the world's second-biggest while Switzerland ranked as the world's 19th-largest economy previous year.

(AW:Samrat Biswas)

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