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RAPAPORT... Kingold Jewelry Inc. signed a joint-venture agreement with Kuwait Support Services Company in Kuwait to form a group that would source and finance gold, and develop, market and distribute gold products, including coins, bullion, jewelry and other items.
Kingold Jewelry anticipates the partnership will market products initially to customers in Kuwait and then expand offerings to customers in Bahrain, Oman, Qatar, Saudi Arabia and the United Arab Emirates. Zhihong Jia, the CEO of Kingold Jewelry, said, "We are so pleased to work with Sheikh Ameer and Kuwait Support Services to explore the fast growing Middle East gold market. This marks the first international business expansion for Kingold and we are looking forward to partnering with Kuwait Support Services to provide our quality gold products to a large population of potential consumers." Kingold Jewelry is located in Wuhan City, China, where it designs and manufactures 24-karat gold jewelry, ornaments and investment-oriented products.
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