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Protectionism to curb Mideast’s petrochemical growth

December 08/2010

(ICIS) -- The recent rise in countries’ antidumping measures are likely to impede the growth and trade flows of petrochemicals from the Middle East, senior industry officials said on Wednesday.

While the Middle East is projected to supply up to 40% of Asia’s expected demand for petrochemicals in the medium term, protectionist measures could curb this outflow, said Sheikha Lubna Bint Khalid al-Qasimi, the United Arab Emirates’ minister of foreign trade. She was speaking at the fifth annual Gulf Petrochemicals and Chemicals Association (GPCA) forum in Dubai.

India recently put tariffs on polypropylene (PP) shipments from Saudi Arabia, Oman and Singapore. The increase in antidumping measures has grown in tandem with the recovery in the global economy, as economies with large export deficits create an environment conducive to protectionist measures, said SABIC CEO Mohamed al-Mady.


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