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Wednesday, 15th July 2009 (1323 views)

Pakistan is looking to enhance its global standing as a producer and consumer of gold.

According to the Daily Times, the country is supporting these efforts with the launch of the Pakistan International Jewellery Show, which will take place in October. Up until now, Pakistan has only been able to attend exhibitions and events held by other countries.

Speaking to the publication, Shafi Chowksi, the former coordinator of gem and jewellery development at Strategy Working Group, noted that Pakistan is currently the tenth biggest consumer of gold in the world.

Global demand for the precious metal stands at over 2,500 tonnes, with Pakistan's consumption at more than 100 tonnes, he said.

Mr Chowksi went on to claim that a recent free trade agreement signed by Pakistan and Malaysia will help the former to increase its global gold standing.

"We can even compete with India, which is the world's largest buyer," he stated.

 

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