July marked the first anniversary of the formal entry into force of the China-Iceland and China-Switzerland free trade agreements. Recently, Ministry of Commerce spokesperson Shen Danyang said that overall the implementation of the agreement has been smooth since it came into effect, especially the China-Iceland trade agreement, which has begun to boost bilateral trade.
According to statistics, in the first quarter of this year, the bilateral trade volume between China and Iceland reached US$104 million, a year-on-year increase of 14.3%. In the first half of this year, the textile and clothing import and export trade between China and Iceland reached US$4.99 million, a year-on-year increase of 2.96%. Among them, my country’s exports of textiles and clothing to Iceland were US$4.917 million, a year-on-year increase of 2.24%; during the same period, my country’s imports of textiles and clothing were US$72,000, a year-on-year increase of 97.19%.
According to Swiss official statistics, since the implementation of the China-Switzerland Free Trade Agreement one year ago, Switzerland’s exports to China have increased by 3%, and imports from China have increased by more than 4%. During the same period, Swiss exports to other countries around the world grew by only 0.4%. As for specific products, according to Chinese statistics, China’s exports to Switzerland of electrical appliances and electronic products, computers and communications technology, telephones, bags, lamps, furniture, etc. are all showing rapid growth. During the same period, China’s imports of mechanical equipment, watches, life science technology products, pharmaceuticals, metal processing machine tools, auto parts, etc. from Switzerland also grew rapidly.
However, according to statistics, Sino-Swiss textile and apparel trade is still showing a downward trend. From January to June this year, the total value of Sino-Swiss textile and apparel trade was US$175 million, a year-on-year decrease of 3.3%. Among them, the export volume and import volume fell by 3.6% and 3.6% respectively. 2.16%. However, experts analyze that since the mutual tariff exemption policy of the China-Switzerland Agreement is not implemented in one step, but is reduced year by year, the China-Switzerland Free Trade Agreement will further promote bilateral trade. In addition, it should be pointed out that although the Sino-Swiss textile and apparel trade volume is declining, it needs to be noted that the decline has narrowed. In 2014, the total textile and apparel trade between China and Switzerland dropped by 21.53% year-on-year, of which my country’s exports to Switzerland dropped by 27.11% year-on-year. In the first half of this year, the decline has narrowed from double digits to single digits.
Shen Danyang also said that the China-Iceland Free Trade Agreement is the first free trade agreement signed by China and a European country, while the China-Switzerland Free Trade Agreement is the first free trade agreement signed by China and a European country. It can be said that there are two free trade agreements. The signing of the trade agreement is an important milestone in the development of relations between China, Iceland and Switzerland. These two free trade agreements have just been implemented for one year, so it is too early to make a comprehensive evaluation. Looking back on the past year, the establishment of the free trade zone not only established institutional arrangements for economic and trade cooperation between China and these two countries, and promoted the sustained and healthy development of bilateral economic and trade relations, but also set an important example for deepening China-EU economic and trade cooperation.
Sino-Swiss textile and apparel trade still shows a downward trend
July marked the first anniversary of the formal entry into force of the China-Iceland and China-Switzerland free trade agreements. Recently, Ministry of Commerce spokesperson Shen Danyang said that overall the …
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