Gemstones could attract Chinese buyers
A Pakistani employee of Azad Kashmir Mineral and Industrial Development Corporation (AKMIDC) showing a ruby gemstone at their auction place in Muzaffarabad. PHOTO: AFP
Pakistan is home to a wide range of minerals, including unrivalled grade rubies, emeralds, topaz, aquamarine, fluorite, and lazuli mined in the valleys of Gilgit, Hunza, Swat, Azad Kashmir and Chitral. There are great opportunities in the gemstone business and Chinese investors could invest in it to gain higher profits.
It was highlighted by Pakistan Gems, Jewellers, Traders and Exporters Association (PGJTEA) Senior Vice Chairman Muhammad Fayyaz Qureshi on Thursday at a webinar jointly organised by Pakistan’s Consulate General in Shanghai and the Trade Development Authority of Pakistan (TDAP) to promote Pakistan’s gemstone exports to China.
Qureshi was of the view that gemstone business has not been able to establish itself as one of the top five markets in the world in absence of sufficient facilities, poor mining expertise and limited technologies and related competence.
“To address these challenges, Pakistan is looking forward to establishing joint ventures with China. There should be easy methods for importing equipment required for mining, cutting, and polishing of gemstones,” he explained.
More educational exchange programmes and B2B conferences should be conducted so that youth can develop useful skills. Both countries should participate in gems and jewellery expos to promote their brands while a working group should also be formed to resolve issues in this sector, he added.
On the occasion, Consul General of Pakistan in Shanghai Hussain Haider stated that China is the largest market for Pakistan’s gemstones and there is an immense potential for Pakistan to increase its exports of gemstones to China.
“Pakistani companies need to understand the preferences and requirements of Chinese buyers to increase their presence in the Chinese market. The purpose of this webinar is both to facilitate business match-making between the two countries and to help Pakistani companies understand the dynamics of the Chinese gemstone market,” Haider suggested.
THE ARTICLE ORIGINALLY APPEARED ON THE CHINA ECONOMIC NET
Published in The Express Tribune, July 30th, 2022.
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