What China-Switzerland FTA brings about?(2)

Gao, who signed an MOU with Swiss Economics Minister Johann Schneider-Ammann, said it marked a significant achievement for China's FTA strategy.

He said the FTA would be one of the most comprehensive and high-level accords China has signed with a foreign country in recent years.

The agreement will cover a number of new areas like environment, labor and employment cooperation, protection of intellectual property rights, and information exchanges on government procurement, Gao said.

Experts say the Swiss pharmaceutical and chemical industry, tourism, engineering and watch-making sectors, as well as food producers, would benefit from the deal.

In a written interview with Xinhua on the eve of Li's visit, Swiss President Ueli Maurer said the FTA between the two countries would generate profits in the long run for businesses and citizens of the two countries and contribute to a sustainable expansion of trade and economic well-being.

He said by reducing tariff and non-tariff barriers and increasing legal certainty, the FTA will help improve reciprocal market access and increase their competitiveness in the global market.

Zhang Yi, CEO of Addax Petroleum, subsidiary of China's energy giant Sinopec Group, said the development of bilateral ties will help boost the confidence and determination of Chinese enterprises in Switzerland.

He also said the FTA will help Addax make a better use of the capital and human resources in both countries and seek further development in Switzerland.

Swiss companies are also encouraged by the breakthrough in FTA negotiations.

Roland Decorvet, chairman and CEO of Nestle Greater China, said Nestle has been a big supporter of closer relations between China and Switzerland.

"A closer relationship is in the best interest of both countries in a globalized environment," he said.