The Sino Swiss FTA Will Create Conditions For Ningbo Textile Enterprises To Further Develop The EU Market.

The Ministry of Commerce and the Swiss Confederation Committee signed the contract last weekend. Sino Swiss FTA The agreement covers traditional trade, services, finance, intellectual property and other fields. According to the agreement, there will be more than 95% commodities that will eventually be applied to zero tariffs between the two countries, which will bring great benefits to enterprises such as Ningbo Rui textiles.

Since the beginning of this year, Ningbo's trade with Switzerland has continued to show a good momentum. In the first half of this year, the Ningbo inspection and Quarantine Bureau handled 1007 batches of goods exported to Ningbo from Switzerland, which amounted to 40 million 510 thousand US dollars, up 16.42% and 128% respectively over the same period.

According to the briefing, the Sino Swiss FTA is a comprehensive, high-level and mutually beneficial agreement. The tax reduction level exceeds the 90% tax reduction level in the general FTA. For Ningbo enterprises, the biggest advantage is the textile and garment industry. Before the signing of the Sino Swiss FTA, China enjoyed the preferential tariff system granted by Switzerland to GSP in developing countries, but it did not include textiles, clothing and certain chemicals, furniture, toys and sporting goods. After the implementation of the Sino Swiss FTA, the Swiss side has zero tariff on all products exported to China.

Ningbo's exports to Switzerland are mainly clothing, footwear, small household electrical appliances and so on. Exports of textile products account for an important share of Ningbo's export to Switzerland. Ningbo textile products It is expected to enter the Swiss market more and expand the market share.

The Sino Swiss FTA will not only help expand the trade links between Ningbo enterprises and Switzerland, but also become a traditional trade channel of the EU and make use of its unique advantage of "crossroads" in Europe. Ningbo Enterprises open up the bridge of the EU market and create conditions for Ningbo enterprises to further develop the EU market.