Pak, China considering possible collaboration in gems and jewellery industry

On Monday, a meeting was held between the Chinese Consul General to Pakistan and Chairman Pakistan Gems and Jewellery Development Company (PGJDC) in the port city to discuss the possibilities of collaboration/cooperation between Pakistan and China regarding the development of gems and jewellery Industry.

According to a statement issued in this regard, Chairman PGJDC explained that the company is a public sector organisation working under the Federal Ministry of Industries and Production, Government of Pakistan. The company has now been declared as an autonomous body of the MoIP.

During the meeting, the potential of Pakistan’s gemstones industry was discussed. At present, Pakistan ranks 5th in the world with regards to gemstone reserves and high-quality emeralds, ruby, sapphire, aquamarine, peridot, topaz, and tourmaline. These gemstone treasures are highly sought around the globe and there is dire need to exploit this potential for export growth.

Different areas of collaboration were discussed during the meeting and it was stressed that Chinese investment may be brought in for setting up lapidaries and special industrial parks for cutting, polishing, faceting and carving of gemstones.

The Chinese government may also invest in the extraction of gemstones as most of the gemstones get wasted due to indiscriminate blasting which can be reduced if modern mining machinery is used for extraction.

The CPEC and Gwadar port will also play a very important role in the enhancement of trade and exports of gemstones if the gems and jewellery special industrial parks and individual lapidary units are established along the CPEC route.

During the meeting, the two sides also discussed the possibility of China and Pakistan collaborating in terms of skills development.

It was stressed upon during the meeting that the Pakistani and Chinese governments should join hands and collaborate with each other for the development of the gems and jewellery industries of both countries and learn from each others’ experiences.