Speaking to local media on Sunday, Swiss Economics Minister Doris Leuthard revealed that she would be heading up a large business delegation to China in June, seeking to clinch talks on a free trade agreement between China and the European banking hub, Swiss Radio International (SRI) reported.

 

This move comes as China presses ahead with FTA talks with several European countries, including Iceland and Norway. Both of these form the four-state European Free Trade Association (Efta), along with Switzerland and Liechtenstein, a grouping of European states that are not members of the European Union.

 

"Such deals are important for Switzerland, given that we are not a member of the European Union, the North-American free trade zone or the Asian community of nations," Leuthard said.

 

Through the platform provided by the Efta, Switzerland is currently negotiating on a score of trade deals, although it also has sealed an FTA with the EU and is closing one with Japan relying only on its own economical clout.

 

SRI stated that China is one of four emerging countries -- along with Brazil, Russia and India -- in the so-called BRIC group, SRI said.

 

Switzerland decided to prioritize forging relations with this group of four in 2007, following a 2003 Goldmann Sachs report that the BRIC economies would account for half of the world's industrial production over the next 40 years.

 

Leuthard's track record to this end was shown in February when she stated the importance of cementing trade relations with major developing economies after returning from an economic mission in Brazil.

 

(Xinhua News Agency April 9, 2007)