The eighth edition of the Sino-Swiss Economic Forum (SSEF) concluded Monday in Beijing with China and Swiss officials signing a memorandum of understanding agreeing to formally launch negotiations for the upgrading of the current Sino-Swiss Free Trade Agreement (FTA).
The event attracted over 400 guests, including leaders from Swiss and Chinese multinational companies as well as high-level government representatives from both nations.
Experts, entrepreneurs, company leaders and innovators also shared strategies and practical insights of Swiss companies within China's business landscape, including areas such as sustainability, talent retention, digitalization, life sciences, supply chain management, market access and regulation.
Guy Parmelin, the Swiss Federal Councillor and head of the Swiss Federal Department of Economic Affairs, Education and Research, speaking at the eighth Sino-Swiss Economic Forum in China World Summit Wing, Beijing, China, July 1, 2024. /China Swiss Chamber of Commerce & Embassy of Switzerland in China.
In a keynote speech, Guy Parmelin, Swiss Federal Councillor and head of the country's Federal Department of Economic Affairs, Education and Research, said he recognized the evolving bilateral relations and the growing exchanges in education and research between the two countries, highlighting the strong interlinkages of Swiss companies with the Chinese market.
"The [COVID-19] pandemic showed us that global value chains became strained but did not permanently break. As an economy strongly integrated [into] the global economy, gaining access to geographically diversified markets is beneficial to Switzerland and strengthens our resilience to crises.
"At the same time, we want to focus on our key economic partners. These are foremost the EU, but also the rest of Europe, the United States and certainly also China," said Parmelin.
Chinese Commerce Minister Wang Wentao speaking at the eighth Sino-Swiss Economic Forum in China World Summit Wing, Beijing, China, July 1, 2024. /China Swiss Chamber of Commerce & Embassy of Switzerland in China.
Meanwhile, Chinese Minister of Commerce Wang Wentao stated in his keynote speech that 2025 would mark the 75th anniversary of the establishment of diplomatic relations between China and Switzerland, presenting "a new historic opportunity for the development of bilateral trade relations."
Announcing that both countries signed a memorandum of understanding to formally launch the negotiations to upgrade the Sino-Swiss FTA "as soon as possible," Wang said an early upgrade of the FTA will "undoubtedly inject strong momentum into cooperation in areas such as goods trade, services trade and investment between the two countries."
The SSEF, the largest economic summit between Switzerland and China, offers a unique platform for dialogue, exchange, and partnership-building between the two countries and takes place every two years in Beijing. This edition was organized by the China Swiss Chamber of Commerce in partnership with the Embassy of Switzerland in China.