China-Swiss financial cooperation will benefit from Premier Li Keqiang’s upcoming working visit to Switzerland, Vice Foreign Minister Li Baodong said in Beijing on Jan 16.

The Premier will attend the 45th Annual Meeting of the World Economic Forum (WEF) and pay a working visit to Switzerland from Jan 20 to 22.

Li Baodong told a press conference regarding the Premier’s visit that both countries are expected to reach consensus concerning fields including finance, trade, science and research, food and medicine, and culture.

The senior official also said a new series of cooperation initiatives will be unveiled.

China is Switzerland’s largest trade partner in Asia, while Switzerland is China’s fifth trade partner in Europe.

Li Baodong said the China-Switzerland free trade agreement (FTA) which entered into force on July 1, 2014, marked a milestone in bilateral ties.

The two sides will also discuss the implementation of various details concerning the FTA policy and expect to make a breakthrough on facilitating personnel exchanges, he said.

It will be Premier Li’s second visit to Switzerland since he took office in March 2013, and Li Baodong said this fact shows China gives priority to Switzerland.

Premier Li is expected to meet with President of the Swiss Confederation Simonetta Sommaruga and other Swiss leaders in Davos, Switzerland.

This year marks the 65th anniversary of the establishment of diplomatic ties between the two countries, and the visit will also mark the start of the commemoration activities and further promote the stable development of bilateral ties, Li Baodong added.