Monday, 13th December 2004 (2660 views)

The first 'Gold Shopping Festival' is being launched in Kuwait today by the World Gold Council (WGC).

The event is being supported by the Ministry of Commerce & Industry and the Kuwait Association of Gold and Jewellery Traders.

"We're organizing this after the success of all our projects and festivals in the Pan Arab countries," Moaz Barakat, managing director of WGC for Middle East, Turkey and Pakistan told MENAFN.

It is hoped that the festival will work as a key promotional tool and help to boost the gold industry in the Gulf overall and in Kuwait in particular.

In addition, the organisers want the event to convey the importance of gold and especially to the youth who will be future buyers and traders.

"The project will act as a tool to increase consumption of gold and gold jewellery in addition to increasing investment in gold," Mr Barakat added.

Similar events in the past in other countries have proved successful and have increased gold sales in the period to reach 30 per cent.

 

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