(MENAFN) China and Switzerland promoted their bilateral relationship yesterday as they inked a free trade agreement (FTA) in aspiration for more similar cooperation in the future with other EU members, Arab News reported.
The agreement, which was signed at a ceremony at the Commerce Ministry in Beijing by the two countries' Economy Ministers, aims to liberalize trade in goods and services and exceed their trading that hit USD26.3 a year ago.
Although the signed accord still requires the Swiss parliament approval before it's in action, it undoubtedly marks a sign of tension ease between the world's second-largest economy and the European countries.
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