Bern, Switzerland (GenevaLunch) – Switzerland and its largest commercial partner in Asia, Japan, will officially begin a free trade agreement 1 September. Switzerland has become the first European nation to enter an economic alliance with the “Land of the Rising Sun.”
Swiss Federal authorities made the announcement 29 July of the agreement on free trade and economic partnership, (ALEPE). The Alepe becomes the second most important free trade agreement signed by Switzerland since 1972 when it entered an agreement with the European Community.
In 2008, Swiss exports towards Japan reached CHF 7.1 billion versus CHF4.1 billion in imports. According to the Swiss National Bank, Swiss capital investment in Japan was almost CHF14 billion at the end of 2007.
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News story, GenevaLunch, 31 July 2009.
Filed under: Business
Tags: Bern, Business and finance, European Community, free trade agreement, Japan, Swiss economy, Swiss National Bank, Switzerland