Hublot Special-Edition Wristwatch Commemorates China-Switzerland Free Trade Deal
Swiss luxury watch maker Hublot thinks the time is right to celebrate free trade, and their new Classic Fusion Sino-Swiss FTA Limited Edition wristwatch is just the timepiece to do it!
Signed last year, the bilateral free trade agreement (FTA) between China and Switzerland will see tariffs removed from 84 percent of Swiss goods imported into China and from almost ALL Chinese goods imported into Switzerland. These provisions came into effect on July 1st of 2014, just before the 2014 Sino-Swiss Economic Forum was to open in Beijing.
Hublot, a wholly owned subsidiary of France's LVMH based in Nyon, Switzerland, was chosen to create the official watch for the forum and examples of the striking “Classic Fusion Sino-Swiss FTA Limited Edition” were presented to Chinese officials in attendance by Jean-Jacques de Dardel, Switzerland’s ambassador to China (above, left), and Jean-Claude Biver, chairman of Hublot (above, right).
According to Hublot, the automatic analog watch features a montage of the Chinese and Swiss flags backing a secondary dial face on the front. On the back of the case, flags of the two nations also appear, in full color, at the 3 and 9 o'clock positions along with the legend “Sino-Swiss FTA takes effect” in French and Chinese along with the date 1-7-2014.
Though the watch is stated to be a limited edition release, it's not yet clear where consumers may purchase it nor what the suggested retail price will be. The reason may be the current and future status of Swiss luxury watches exported to China: the FTA does not effect tariffs on such watches (DOH!!), though the agreement includes a special “watch memorandum” stipulating these tariffs will be cut by 60 percent over the next decade... just in time for the free trade agreement's 10th anniversary! (via Jing Daily)