import duties on Swiss watches lowered

China cuts import duties Swiss watches 60% - trade agreements
China aims to reduce import duties on watches from Switzerland over a period of 10 years by 60 percent. Behind this is the goal of the two countries to expand the common trade.
\
Government spending: Germany aiming at a budget surplus in two years
Election promises: Kauder forbids criticism of the FDP is
EU finance ministers: Negotiations on rules for banking crisis burst
German Tour winner Jan Ullrich is blood doping at Fuentes
All News
China aims to reduce import duties on watches from Switzerland over a period of 10 years by 60 percent. Behind this is the goal of the two countries to expand the common trade.



\
The reduction will be implemented after the signing of a free trade agreement by the governments, as a representative of the Chinese Ministry of Commerce said in Beijing on Monday. The conclusion can already be carried out in July. According to the website of the Ministry duties in the first year and 18 percent over the next nine years will be reduced by approximately 5 percent.

The two countries had a letter of intent to enter into a free trade agreement signed when Chinese Premier Li Keqiang last week in Switzerland was visiting. The Xinhua news agency reported on 24 May

Currently, the import duties on watches are in most cases 15 to 20 percent, as is apparent from the information on the Ministry website further.