“Swiss companies see opportunities in innovation, engineering and financial services.” That’s what Doris Leuthard, the President of Switzerland, hopes for Swiss businesses in the Chinese market.

Leuthard was among the 29 heads of state and government who attended the high-level Belt and Road Forum in Beijing. The two-day forum, held from May 14 to 15, gathered leaders from more than 30 countries to map out their vision for globalization and help push for a stronger trade network.

The Sino-Swiss trade bond stands out in particular. China has been Switzerland's most important trading partner in Asia since 2002. And Switzerland is one of the few western countries to have achieved a trade surplus in dealings with China since 2003.

Leuthard said last year that Switzerland was very satisfied with the success of the bilateral free trade agreement (FTA) with China during her working visit to China.

The Sino-Swiss FTA came into force in July 2014, but still faces political and cultural hurdles. And that’s where Leuthard suggested companies could be more patient.

“Difficulties are natural at the beginning of an FTA, as companies have to adapt to custom services, so it will take some time,” said Leuthard. She also noted that experts from the two countries will meet this spring to propose additional measures to better implement the trade agreement.

Switzerland is specialized in banking and financial services, and is also a member of the China-led Asian Infrastructure Investment Bank (AIIB), whose job is to support financially weaker countries with investment in their energy and transport infrastructure.

That makes Switzerland a very important member to be able to financially support and help facilitate the Belt and Road Initiative. 

“Switzerland will act with guidelines that are internationally agreed as one of the founding members of AIIB,” said Leuthard.