China makes yet another offer to Pakistan over economic front
ISLAMABAD - Chamber of Commerce and Industry (PCJCCI) was held in Lahore to explore opportunities for boosting bilateral trade and strengthening economic cooperation between Pakistan and China.
President of PCJCCI Zarak Khan said that China is the biggest buyer of jewelry and gemstones in the world. Pakistan possesses large untapped reserves of precious gemstones which can be exported to China. Increased exports of gemstones and jewellery can help Pakistan on the economic front.
Pakistan has the 5th largest gemstone reserves with 800,000 carats of Ruby, 87,000 carats of Emerald and 5 million carats of Peridot. Moreover, Pink Topaz and Kashmir Ruby are two rare Pakistani gemstones that are in high demand across the globe.
Unfortunately, due to a shortage of skilled laborers with expertise in cutting, polishing, and processing of gemstones and unavailability of world-class facilities, Pakistan is unable to fulfill its potential in the gems and jewelry industry.
Moreover, gemstones and jewelry produced at available facilities are of low quality and not in line with global standards.
Senior Vice President of PCJCCI Moazzam Ghurki said that Pakistan can procure the latest technology from China to reconcile its gemstone production with the global standards.
A joint program of the National Productivity Organization (NPO) and Asian Productivity Organization (APO) should be launched under which Chinese professionals will teach Pakistani laborers and engineers the skills needed to produce high-quality jewelry.
*Via: The Express Tribune link*