A relevant Ministry of Commerce official said that the signing of the Sino-Swiss FTA upgrade protocol will help unleash the greater potential for bilateral trade and investment cooperation, and will bring more opportunities for innovation and development dividends to enterprises and people of the two countries. A relevant person in charge of the Ministry of Commerce explained that the Sino-Swiss FTA has promoted and demonstrated the deepening of Sino-European economic and trade cooperation. The data shows that in the past five years, the average annual trade volume between China and Switzerland has exceeded 50 billion US dollars. From January to September of this year, bilateral trade volume between China and Switzerland reached US$89 billion, an increase of 127% over the previous year. Chen Chao, director of the Department of International Affairs of the Ministry of Commerce, said that the current global economic growth is facing many factors of instability. Unilateralism and trade protectionism are on the rise, and China and Switzerland have signed a protocol to upgrade the free trade agreement, which fully demonstrates the clear attitude of the two sides in choosing certainty and supporting free trade. This year marks the 10th anniversary of the establishment of an innovative strategic partnership between China and Switzerland. It is also the beginning of China's “15th Five-Year Plan”. The two countries face vast opportunities for innovation cooperation, and the upgrade of the free trade agreement comes at an opportune time. After the upgrade protocol is signed, China and Switzerland will separately carry out their respective domestic procedures to push for the early entry into force and implementation of the protocol.

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