China Largest Market For Pakistan's Gemstones: Pak Consul General

BEIJING, (UrduPoint / Pakistan Point News - 30th Jul, 2022 ) :Consul General of Pakistan in Shanghai, Hussain Haider said that China was 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," he said at a webinar jointly organized by Pakistan's Consulate General in Shanghai and the Trade Development Authority of Pakistan to promote Pakistan's gemstone exports to China.

The Consul General said, the purpose of this webinar was both to facilitate business match-making between the two countries and to help Pakistani companies understand the dynamics of the Chinese gemstone market.

Speaking on the occasion, Senior Vice Chairman of Pakistan Gems, Jewellers, Traders and Exporters Association (PGJTEA), Muhammad Fayyaz Qureshi, highlighted that Pakistan was 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," he added, this business had not been able to establish itself as one of the top five markets in the world mostly owing to a lack of sufficient facilities, poor mining expertise, and limited technologies and related know-how.

"To address these challenges, Pakistan is looking forward to establishing joint ventures with China." Fayyaz Qureshi further explained, "equipment for mining, cutting, and polishing gems stones should be made easy to be imported. Moreover, more educational exchange programs and B2B conferences should be conducted so that our youth can develop useful skills. Both countries should participate in gems and jewellery expos to promote their brands. A work group should also be formed to resolve issues in this sector." The webinar was attended by more than thirty (30) enterprises from China and Pakistan and relevant associations including All Pakistan Commercial Exporters Association and Quetta Chamber of Commerce and Industry.

During the webinar, companies from Pakistan introduced themselves and the specific products that they can supply to China, while Chinese companies explained their import requirements. They also emphasized the need to disseminate more information about Pakistan's gemstones.