Switzerland Has Patience and High Hopes for Chinese Market

by swisscham in BUSINESS NEWS

Swiss companies see opportunities in innovation, engineering and financial services.ÓÊThatÕs what Doris Leuthard, the President of Switzerland, hopes for Swiss businesses in the Chinese market.Leuthard was among the 29 heads of state and government who attended the high-level Belt and Road Forum in Beijing. The two-day forum, held from 14 to 15 May, gathered leaders from more than 30 countries to map out their vision for globalization and help push for a stronger trade network. The Sino-Swiss trade bond stands out in particular. China has been Switzerland’s most important trading partner in Asia since 2002. And Switzerland is one of the few western countries to have achieved a trade surplus in dealings with China since 2003. The Sino-Swiss FTA came into force in July 2014, but still faces political and cultural hurdles. And thatÕs where Leuthard suggested companies could be more patient. Switzerland is specialized in banking and financial services, and is also a member of the China-led Asian Infrastructure Investment Bank (AIIB), whose job is to support financially weaker countries with investment in their energy and transport infrastructure.That makes Switzerland a very important member to be able to financially support and help facilitate the Belt and Road Initiative.

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