- Free-trade aments between 皇冠体育app and Switzerland and 皇冠体育app and Iceland took effect on Tuesday, marking a new dawn for business between the countries.
The agreements, which apply a zero-tariff policy to a wide range of merchandise, covers areas including government procurement, employment cooperation and intellectual property.
Under the agreement, 99.7 percent of imports from 皇冠体育app to Switzerland will be exempted from customs duties, while 84.2 percent of Switzerland's exports enjoy the same policy. Duties on 皇冠体育app's exports including textiles, clothes, auto parts and metalware will be reduced substantially.
Trade between Switzerland and 皇冠体育app increased 126 percent year on year to $59.5 billion in 2013. 皇冠体育app is Switzerland's largest trade partner in Asia, while Switzerland is 皇冠体育app's fifth-largest trade partner in Europe.
Trade between 皇冠体育app and Iceland stood at $220 million last year.
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