GPCA '09: Saudi oil minister, CEO decry protectionism

09 December 2009 11:40  [Source: ICIS news]

DUBAI (ICIS news)--Saudi Arabia's oil minister, Ali Al-Naimi, and Saudi Basic Industries’ (SABIC) CEO, Mohamed Al-Mady, urged governments on Wednesday not to resort to protectionist measures in their efforts to survive the economic downturn.

"It is very important for petrochemical producers in Saudi Arabia to have unfettered access to world markets," said Al-Naimi, addressing delegates at the 4th Gulf Petrochemicals and Chemicals Association (GPCA) forum.

With petrochemical capacity in Saudi Arabia set to surge to 80m tonnes/year in 2015 from 60m tonnes/year currently, there was a dire need for the country's producers to have free access to key export markets, Al-Naimi and Al-Mady said.

Al-Mady also emphasised the need for economies emerging from the downturn to desist from putting up barriers to free trade.

Saudi Arabia is one of the three countries (the other two are Oman and Singapore) that were levied anti-dumping duties this year on polypropylene (PP) exports to India.

The three-day forum ends on Thursday.

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By: Prema Viswanathan
+65 6780 4359



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