Pakistan’s jewellery has entered China for years, and the reasonable price has always been one of the main selling points.
Now, by building brands and improving design and service, Pakistani jewellery is trying to take up a slice of the high-end market in China, reportedChina Economic Net.
Earlier in this month, Pakistani gemstones glittering at the 4th China International Import Expo (CIIE) were appreciated by Chinese visitors. They were impressed by the exquisitely designed high-end jewellery from Pakistan.
According to a brand owner, after participating in the last year’s CIIE, the sales of his store grew 40-50% on a year-on-year basis, confirming CIIE’s great boost to foreign businesses, and more significantly, the expanding recognition of Pakistani jewellery in China.
Facilitated by China-Pakistan Free Trade Agreement (CPFTA) Phase II, Pakistan’s gemstone export tariff to China dropped from 17-32% to zero.
In the first three quarters of 2021, as per China Customs, Pakistan’s exports of raw gemstones to China grew 9.6 times compared to the same period of 2020. Meanwhile, the country’s total exports to China skyrocketed to $2.5 billion, a strong year-on-year growth of 77%. —TLTP
