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The 1972 Free Trade Agreement (FTA) between Switzerland and the European Union (EU) created a free trade zone for industrial products between the two parties to the Agreement. Industrial goods originating in the territory of the two parties can therefore be traded free of customs duty. The Agreement prohibits the setting of limits on the volume of goods that can be traded (quotas) as well as measures with the same effect such as tariff barriers. The FTA is one of the main pillars of the trade relations between Switzerland and the EU. In 2013, about 55% of Swiss exports went to the EU and 73% of all Swiss imports came from the EU.
Status February 2014
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