KSE100 34350.42  ▲ Increased By 231.03 (0.68%)
KSE30 15000.89  ▲ Increased By 85.48 (0.57%)
BR100 3516.22  ▲ Increased By 11.22 (0.32%)
BR30 18244.64  ▲ Increased By 13.27 (0.07%)

Business Recorder Logo

Jun 06, 2020 PRINT EDITION
Business

Pakistan may benefit by exporting gems, jewellery to China: PCJCCI chief

Pakistan China Joint Chamber of Commerce and Industry (PCJCCI) President Zarak Khan has said that China is the world's largest consumer of gems and jewellery and Pakistan can take benefit by exporting gems and jewellery products.

October 18, 2019

Pakistan China Joint Chamber of Commerce and Industry (PCJCCI) President Zarak Khan has said that China is the world's largest consumer of gems and jewellery and Pakistan can take benefit by exporting gems and jewellery products.
PCJCCI president stated this while addressing the PCJCCI's Export Promotion Committee here on Thursday. Senior Vice President Moazzam Ghurki, and Secretary General Salahauddin Hanif were also present on the occasion.
He said that Pakistan had emerged as the fifth largest country of gemstones reservoirs, but unfortunately the country had not been able to get benefit from its natural resources due to lack of skills, technology, and knowledge for processing of the mining materials.
Highlighting the gemstones potential, he said Pakistan has annual export potential of 800,000 carats of Ruby, 87,000 carats of Emerald and five million carats of Peridot which lay unutilized due to lack of appropriate cutting and polishing facilities in the country.
He also revealed that Pakistan's Pink Topaz and Kashmir Ruby are unique items all over the world, especially the Pink Topaz is considered as one of the second highest valued mineral.
Moazzam Ghurki suggested collaboration with China to learn the latest techniques for cutting and polishing of the gemstones.
He suggested taking on board, the National Productivity Organization (NPO) and Asian productivity organization in this regard.
Chinese professionals in this sector should be invited to train Pakistani labour force and mining engineers for cutting/manufacturing and designing the state of the art jewellery in this vital segment of economy.
Salahuddin Hanif said that China had started attracting global jewellery industry since 1978 and with the passage of time China had turned to be a rapidly growing consumer market.
He said, in 1980, only 20,000 people throughout China were involved in the jewellery industry and 30 years later, more than three million are employed in this field but, rising costs of labor created challenges for the manufacturing sector, which has created a room for Pakistan in this area.
It was pointed out in the Executive Committee meeting that Chinese consumers are becoming more sophisticated in their shopping habits, they are moving away from traditional styles and are more inclined towards latest trends, quality, uniqueness and luxurious products. Therefore Pakistani exporters will have to ensure international standards and quality to attract Chinese market.

Copyright Business Recorder, 2019