Economy, Domestic Economy
0

Counterfeit Watches in Plenty

Counterfeit Watches in PlentyCounterfeit Watches in Plenty

For every watch with a genuine brand in the Iranian market there are 100 counterfeit ones, according to deputy head of Tehran Watch Union.

“There is a low tariff of 4% on watch imports and therefore there is no contraband. Yet, the lion’s share of the imported watches is fake,” IRNA quoted Alireza Khanlou as saying. The official called on the Ministry of Industries, Mining and Trade not to allow order registrations for such products and asked the Islamic Republic of Iran Customs Administration to prevent counterfeit watches from entering the country.

IRICA has responded to Khanlou’s remarks saying that there are no standards defined for imported watches and that the administration has not received any official reports from Tehran Watch Union about the counterfeit in the market.

Add new comment

Read our comment policy before posting your viewpoints

Financialtribune.com