In a recent meeting between China's Xi and the Swiss Confederation's Leuthard, the two have agreed to continue and strengthen the existing partnership between their countries. They also called to oppose protectionism.
The free trade agreement (FTA) between China and Switzerland were discussed in 2011, and the deal was sealed in July 2013. The agreement became effective in July 2014, waiving most tariffs on goods. Switzerland is the first European country to have a free trade agreement with the Asian economic powerhouse.
Xi believes that China's continuing partnership with Switzerland serves as a model for the cooperation between two countries that have different social systems, development stages and size of homelands.
"We may actively explore the possibility of upgrading the Free Trade Agreement and set a good example of promoting a free and open international trade and investment system," said the Chinese head of state.
Xi and Leuthard share the same philosophy that openness and inclusiveness are necessary in order to bring win-win results for both countries. According to Leuthard, only openness and an open economy can have better results, adding that globalization was inevitable.
"I think many countries are on our side, and they know cooperation is much better than isolationism and protectionism," said the Swiss Confederation President.
The two heads of state also witnessed the signing of a series of cooperation agreements between the two countries which covers diplomacy, free trade, energy, customs, intellectual property rights, culture, education, sports and others.
According to Huang Ping, director of the Institute of European Studies at the Chinese Academy of Social Science, China could seek solutions for the problems that it faces now through this existing partnership with Switzerland.
He added that there is potential for innovative cooperation in areas such as manufacturing, immigration management, anti-terrorism and healthcare.
The partnership between China and Switzerland still presents great potential. And with the intention of continuing and strengthening the existing cooperation, undoubtedly, great benefits will be reaped in the future.