China-Switzerland Free Trade Agreement to benefit luxury
The 2014 Sino-Swiss Economic Forum which has recently taken place in Beijing celebrates the Free Trade Agreement (FTA) between the People’s Republic of China and the Swiss Confederation. The Sino-Swiss Economic Forum is jointly organized by the Swiss-Chinese Chamber of Commerce and the Swiss Embassy. Key topics were discussed on the strengths complementing the economic cooperation, i.e. quality, innovation, competitiveness and sustainability.
The comprehensive FTA will establish preferential relations for trade in goods and services between China and Switzerland, facilitating two-way trade and enhancing competitiveness of both economies. The agreement will also strengthen legal certainty for economic exchange, promote bilateral cooperation between Switzerland and China and contribute to sustainable development.
Switzerland is a world-renowned high-end manufacturing powerhouse, and Swiss traditional high-end watchmaking industry is the mainstay of the “Swiss-made” heritage. With the Sino-Swiss FTA taking effect and the development of China’s manufacturing industry and consuming capacity, the two countries open up opportunities in economic and trade cooperation benefitting many industry sectors, including luxury, especially watches.