What China-Switzerland FTA brings about?

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.

Good example for other partners

Premier Li said in a signed article published Thursday in Neue Zuricher Zeitung, a German-language Swiss daily, that with the advent of FTA, Switzerland will become the first country in continental Europe and the first of the world's top 20 economies to reach an FTA with China, and the implications will be significant.

He said the FTA fully demonstrates that China will not stall in its opening-up and that it is firmly committed to upholding the multilateral trading regime, vigorously promoting regional trade liberalization, and accelerating the implementation of the FTA strategy.

"Moreover, a high-quality FTA agreement between China and Switzerland will also set a good example. It will not only upgrade our business and investment cooperation but also send a powerful message to the rest of the world that we reject trade and investment protectionism and, instead, we embrace trade liberalization and facilitation," the article said.

"It will inject fresh impetus into China-EU business ties, bring tangible benefits to consumers and businesses in both of our countries, and contribute to world trade and economic recovery," wrote Li.

Luzius Wasescha, special advisor to the Foreign Ministry of Switzerland, told Xinhua that the Sino-Swiss FTA is a chance for China to use Switzerland as a laboratory to further develop its relations with other European countries.

"The experience we can share with you may be useful in your development of strategies toward other European countries," said Wasescha, who was the Swiss ambassador to the World Trade Organization (WTO) from 2007 to 2012.

Klaus Schwab, founder and executive chairman of the World Economic Forum, said that a mutually beneficial agreement could encourage other nations to strengthen global trade.