An article by China Daily reports Free Trade Agreements (FTA) with Iceland and Switzerland are on the horizon. Both Iceland and Switzerland are anxious to sign free trade agreements with the world’s second largest economy in an effort to boost trade.
President of Iceland Olafur Ragnar Grimsson and President of the Swiss Confederation Ueli Maurer told China Daily that both countries have achieved “smooth and decisive progress” with China in the FTA talks.
Iceland’s Prime Minister, Johanna Sigurdardottir is supposed to be visiting Beijing in February or March. A visit could make it very likely that Iceland would be the first European country to sign an FTA with China.
Switzerland began talks with China last year during the annual commerce work conference held late last year in Beijing, and is progressing faster in hopes of signing an agreement in the near future.
The main objective of a free trade agreement with both countries is to promote trade and investment, reducing or eliminating tariffs on a majority of goods, and improving market access for goods and services through economic cooperation.