On May 24, 2013, Premier Li Keqiang of the State Council delivered a speech in Zurich entitled "Work Hand-in-Hand to Create a New future of China-Switzerland Pragmatic Cooperation", expounding China's economic and financial policies as well as the significance of China-Switzerland Free Trade Agreement.
Li Keqiang said, Switzerland is the first stop of my first overseas trip after becoming the Premier of China. I have chosen Switzerland because we have very close and friendly relations with Switzerland. China is the largest trade partner of Switzerland in Asia, and Swiss businesses are really enthusiastic to invest in China. Most importantly, China and Switzerland have reached FTA agreement. It will inject fresh strong impetus into the bilateral cooperation.
Li Keqiang said, over the past three plus years, the two sides have made dedicated efforts to expand common ground while reserving differences, and completed nine rounds of consultations. The FTA agreement has not come easily. I am confident this blueprint will be turned into a reality.
Li Keqiang said, China-Switzerland FTA is a fruitful agreement with high quality and rich content. It not only covers trade in goods and services, but also includes new trade issues such as environmental protection, labor and employment, intellectual property and market competition. The two sides have agreed to provide low- or even zero-tariff treatment to the vast majority of each other's products, and advance liberalization and facilitation of trade in services. This is a mutually beneficial and win-win arrangement. It will help reduce the cost of transactions, promote the development of companies through competition, and better leverage the fundamental role of the market in resources allocation.
Li Keqiang said, the significance of the building of a China-Switzerland FTA goes beyond the two countries. It is China's first FTA with a country from the European continent and with one of the world's top 20 economies. it is good news for China-Switzerland business cooperation. it is good news for China-Europe relations. It can serve as a model and guide for other countries.
Li Keqiang noted that, China will be more active in opening to the outside world, will take the accelerated implementation of the FTA strategy, and work with its FTA partners to reap the "dividends of opening-up" in the new era, unleash more "reform dividends" and share greater "development dividends". China is taking active steps to get the wheel of multilateral trading system and the wheel of regional trade arrangements moving at the same time. In principle, China is open to all cooperation initiatives that are conducive to trade liberalization and regional economic integration. we are opposed to trade and investment protectionism in all forms.
Li Keqiang pointed out that, the Chinese side is highly concerned about the anti-dumping and countervailing duty investigation recently launched by the EU against Chinese PV products and wireless telecommunication equipments. Anti-dumping and countervailing duty investigation against these two types of products will seriously hurt the relevant industries, companies and jobs in China, and also undermine the vital interests of European users and consumers. It serves no one's interests, but only fuels the rise of protectionism. We are firmly opposed to it. China has consistently called for settling trade frictions through dialogue and consultation. We hope the EU will properly deal with the cases of PV products and wireless telecommunication equipments, uphold the larger interests of China-EU economic relations and the principle of trade liberalization.
Li Keqiang said, Switzerland is an important international financial center. China and Switzerland will establish a financial dialogue mechanism to enhance cooperation on financial issues. We are committed to deepening reform and opening-up of China's financial sector. We will promote reform, development, economic transformation and innovation in the course of opening-up to achieve the sustainable and healthy growth of the Chinese economy. This will also create opportunities for the economic growth and development of the world. We believe countries should ensure the stability of their financial and economic policies, to create conditions for achieving global financial stability, market recovery and economic growth. We hope the international financial system will be reformed and improved. While upholding the existing sound and effective international economic system and rules, efforts should be made to strengthen international financial supervision and regulation, to encourage regional financial cooperation, and to enhance the voice and representation of developing countries.
To conclude his speech, Li Keqiang said, Switzerland is a front-runner among European countries in growing relations with China. Switzerland was one of the first countries in the West to recognize the People's Republic of China, the first European country to recognize China's full market economy status, and again the first country on continental Europe to sign an FTA agreement with China. China and Switzerland both have the courage and determination to always be the first in the world, and that is exactly why our bilateral relations have grown from one generation to another and become a model of friendly exchanges between countries with different social systems and culture. We should preserve and promote this enterprising spirit, and ensure China-Switzerland relations will always stay ahead of history, ahead of the times and at the forefront of the world and continue to strive for excellence.
Li Keqiang answered questions from the present guests from the economic and financial community on the current situation as well as the future trends of the Chinese economy.
Johann Schneider-Ammann, member of the Swiss Federal Council and head of the Federal Department of Economic Affairs, Education and Research, and Thomas Jordan, Chairman of Swiss National Bank, along with over 300 Swiss economic and financial community leaders, were present at the luncheon. Schneider-Ammann said in his address that China's development has strongly promoted global economic growth. Switzerland and China have always maintained close economic relations, and the FTA deal will push bilateral economic and trade cooperation into a new historical stage. Switzerland is willing to work together with China to translate the deal into tangible benefits.