China-Switzerland FTA takes effect

A new free-trade agreement between China and Switzerland has taken effect.

The agreement, which applies a zero-tariff policy to a wide range of merchandise, covers areas including government procurement, employment and intellectual property.

Under the agreement, 99.7 percent of imports from China to Switzerland will be exempted from customs duties, while 84 percent of Switzerland's exports will enjoy the same policy.

Trade between Switzerland and China increased over 125-percent year on year to just under 60-billion U.S. dollars last year.

Switzerland is China's fifth-largest trading partner in Europe.

For more on China's first FTA with a European country, we are now joined on the line by Benjamin Cavender, Principal at China Market Research in Shanghai.