China, Switzerland pledge closer cooperation(2)

Chinese Premier Li Keqiang (R) shakes hands with Swiss President Ueli Maurer during their meeting in Beijing, capital of China, July 18, 2013. (Xinhua/Zhang Duo)

During his meeting with Maurer, Li said the FTA will "inject vitality" into bilateral relations, and that the Chinese side is ready to accelerate the functioning of the agreement, make joint efforts with the Swiss side to oppose trade protectionism and further advance cooperation in various areas.

It is estimated that as much as 99.7 percent of Chinese exports to Switzerland will be immediately exempted from tariffs once the FTA goes into effect, while 84.2 percent of Swiss exports to China will eventually receive zero tariff.

The scope of tariff reductions under the deal, which will cover 99.99 percent of Swiss exports to China and 96.5 percent of Chinese exports to Switzerland, exceeded the 90-percent level of an average FTA.

Li also briefed Maurer on China's current economic cooperation as well as the plan to upgrade the economy.

For his part, Maurer recalled Li's visit to Switzerland in May.

It was during Li's visit that the two sides concluded their FTA talks, secured by a Memorandum of Understanding. In Bern, Li and Maurer also witnessed the signing of an agreement to establish a financial dialogue mechanism between the two sides. The two countries also signed agreements on cooperation in human resources, education and other sectors.

During Thursday's meeting with Li, Maurer said the Swiss side is ready to be a reliable partner of China in Europe and hopes to further cement the bilateral relationship to benefit the people of the two countries.