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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 and governs the trade in processed agricultural products. Industrial products originating in the territory of the two parties can be traded free of customs duty on the basis of the FTA. In addition, the Agreement prohibits the setting of limits on the volume of goods that can be traded (quotas) as well as measures with the same effects (e.g. discriminating selling arrangements). 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 August 2014
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