Eu Switzerland Free Trade Agreement

An approved exporter may, in all agreements, submit invoice declarations in all agreements, regardless of the value of the lot. These should not be signed by hand. The exporter must obtain the authorization of the relevant district customs office; this authorization is granted on the condition that the applicant guarantees that he is complying with the country of origin provisions and that he has submitted correct country of origin declarations in the past. For more information: SCA – Licensed exporters. Swiss tariff reductions under the CSFTA also cover a wide range of products. Among the goods on which Chinese exporters can make great savings are magnets, water heaters, vacuum cleaners, bicycles and electric motors. The Swiss watch industry has access to duty-free intermediate parts from China. Nevertheless, Switzerland has continued to protect its agricultural and agricultural sector, which includes products such as milk and cheese, sugary products, fruits, cereals, specific animal products and certain varieties of wines. China`s concessions under the CSFTA in the area of financial services and insurance services – another important interest of Switzerland and the EU – are weak. In the area of insurance, there are no additional concessions to China`s accession protocol, although there is greater specificity in the provision of activities authorized by the Chinese branches of Swiss companies. With regard to financial services, additional concessions apply only to securities trading, allowing Swiss companies to act on behalf of qualified institutional investors (QDII) in China, provide advisory services and provide childcare abroad. Swiss companies may also hold 49 per cent of joint ventures that carry out certain trade and subcontracting activities.

In line with its commitments made by MFN WTO, the maximum participation of these joint ventures is 33%. Swiss joint ventures are also allowed to be subject to information, own-account trading and asset management transactions if they obtain the required authorisation. Free trade agreements are international treaties between two parties (countries or transnational groups) to ensure free trade. The currency of Switzerland is the Swiss franc. Switzerland (along with Liechtenstein) is in an unusual position to be surrounded by countries using the euro. As a result, the euro is de facto accepted in many places, especially near borders and tourist regions. Swiss federal railways accept euros, both at ATMs and ATMs. [42] Many public telephones, ATMs or ATMs also accept euro coins. Many stores and small businesses that accept the euro only take notes and change in Swiss francs, usually at a less favourable exchange rate than banks. Many ATMs issue euro at the negotiated exchange rate as well as Swiss francs.

Although it is still too early to make a definitive assessment, the apparent impact of the CSFTA on trade between China and Switzerland has so far been modest at best. China and Switzerland do very little. Their mutual trade intensity index, calculated by the World Bank`s WITS, shows that they both have a reciprocal value of less than 100, which means they do not perform well relative to their overall importance in world trade. While trade has increased since the agreement came into force, it has been highly volatile and dominated by some key sectors (jewellery and pharmaceuticals). China attracted 7% of Swiss merchandise exports in 2019, up from 5.8% in 2013. However, Swiss exports to China saw the largest increase just before the agreement (with an annual rate of 49% between 2010 and 2013); Export growth slowed immediately after it came into force, to 3.1% per year in 2014-19.