InterviewGPCA chief hopeful of end to India-Middle East ADD row
06 December 2010 08:21 [Source: ICIS news]
By Tahir Ikram
?xml:namespace>SINGAPORE (ICIS)--The Gulf Petrochemicals and Chemicals Association (GPCA) is hopeful that the trade dispute over antidumping duties (ADD) on polymers between India and the Middle East will soon be resolved, the association chief said on Monday.
Saudi Arabia and Oman, along with Singapore, were slapped with tariffs on polypropylene (PP) shipments to India, upon determination that dumping of the material was taking place.
Saudi Arabia had threatened to bring up the case before the World Trade Organisation (WTO) if India did not retract its trade policy.
“We are optimistic that a win-win situation for all will be found soon,” GPCA secretary general Abdulwahab al-Sadoun told ICIS in a phone interview.
The trade squabbles between India and the Middle Eastern countries may be discussed on the sidelines of the 5th annual GPCA meeting in Dubai, which will run from 7-9 December, he said.
GPCA had taken a stand against any form of protectionism, even during periods of economic difficulties.
“It’s in the best interest of everyone to have a free trade policy to be implemented. Any protectionist measures will have ramifications for consumers as well,” Al-Sadoun said.
The GPCA forum this year, which will focus on innovation, had attracted 1,300 delegates so far, representing a 23% increase in number of attendees from last year’s meeting, he said.
“This is a reflection of the prominence of the gulf region … as [the] centre of gravity for [the] petrochemicals business,” Al-Sadoun said.
The Middle East has a strong petrochemical base, with an estimated 19m tonnes of new ethylene capacity expected to come on stream by 2015.
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