Non-conventional sectors like gemstone can increase exports

Non-conventional sectors like gemstone can increase exports

RAWALPINDI, APR 28 /DNA/ – The gems and jewellery sector can play a vital role in enhancing exports of the country, contributing immensely in earning of foreign exchange and providing employment to the youth.

Rawalpindi Chamber of Commerce and Industry (RCCI) President Saqib Rafiq while speaking to the participants of the International Workshop for Technical Expert Service Program on Gems and Jewelery at Chamber House, said that there are many opportunities in the nonconventional sectors like Gemstones and Jewelery. He remarked that “Our industry has huge potential for value addition and profitability but due to lack of interest this industry is far below our regional competitors, who are engaged in the mining, cutting/polishing and trading of gemstones.”

He said there was a need to focus on non-conventional sectors to increase exports.

RCCI President Saqib Rafiq said that export targets can be met by promoting non-traditional sectors, there is a need to review the Strategic Trade Policy Framework (STPF) 2020-25.

Pakistan is the fifth largest country rich in precious stone reserves, minerals. The share in the gross domestic product is only three percent.

The main objective of this program is to review international standards on gemstone products, to provide comprehensive knowledge of cutting, polishing, designing and heating techniques, and to enhance understanding of best practices and technological advances in gemstone value chains including manufacturing, standardization and trading.

On this occasion, Vice President Faisal Shahzad, former Vice President Fayyaz Qureshi, Chamber members and representatives from the National Productivity Organization (NPO), Pakistan and Asian Productivity Organization (APO) from Thailand and Japan, and other distinguished guests were also present on the occasion.