Italy is planning to establish a training institute in order to promote the gems, jewelry and gemstone industry in Gilgit Baltistan (GB).
The meeting to establish a training institute of gems, jewelry and gemstone industry in GB was held between Federation Pakistan Chamber of Commerce and Industry (FPCCI) Chairman, Qurban Ali, and Ambassador of Italy to Pakistan, Andreas Ferrarese.
“We are considering establishing a training institute to promote the gems, jewelry and gemstone industry in Gilgit Baltistan,” Ferrarese said.
Pakistan has an export potential worth $32 billion annually in the dormant gemstone industry, while Precious stones are explored from almost unreachable lands of the mountainous regions. The most extensive ruby deposits in the country are located in the Hunza valley.
The FPCCI chairman, while speaking on the occasion said that the move would be a momentous in the development of the gems and jewelry industry in the region and also help achieve the objective of employment generation in the region.
Qurban Ali urged local exporters of gemstones to go for advance and modern technology to increase the value of precious and semi-precious stones for the international market, attracting foreign investors from the European Union (EU) and United States (US) to earn more profits.
He further informed the meeting that after Burma, Hunza is the only other region in the world that produces blood-red rubies; some of the finest emeralds in the world are mined in the attractive valley of Swat, while high-quality aquamarine can be found in Shigar, Chitral, Kaghan and also Neelam Valley of Azad Kashmir.
Likewise, fluorite is found in Chitral, Dir, Hunza, and Balochistan, with the largest deposits occurring in the Northern part of the Koh-e-Mardan range of Kalat.
The senior business leader said that CPEC related GB Special Economic Zones (SEZ) would grow business and industrial cooperation between the business sectors of Italy and Pakistan.