GCC has 9% of the global ethylene production capacity

The conference targets to shed light on the strategic issues relating to GCC role in global petrochemical industry. It also focuses on future advances and market trends; investment and financing of this industry, further to the challenges it faces. In terms of conference organization, besides GOIC, each of the Ministry of Finance and Industry in UAE, and Abu Dhabi Chamber of Commerce & Industry contribute in organizing this event, in coordination with GCC General Secretariat, and Federation of GCC Chambers, in addition to the Federation of UAE Chambers of Commerce and Industry.

The conference agenda includes a work paper by the Gulf Organization for Industrial Consulting (GOIC) titled "GCC Petrochemical Sector - A Vision for 2020", followed by an open discussion with GCC Ministers of Industry, which is the most prominent activity in the conference. In its first day, the conference presents the following work papers: The GCC Petrochemical Industry - A New Frontier in the Global Industry; Development Trends in the Petrochemical Industry in GCC; and Creating Correlation in Petrochemicals Industry Chain. The open discussion for the first day will be devoted to discussing the future trends of petrochemicals industry in GCC member states.

The second day of the conference will include work papers on: Shaping the Future with Plastics: a Differentiated Approach; Petrochemical Industry - Technological Trends; What is happening in the Asian Petrochemical Industry?; Financing the Gulf Petrochemical Industry; An Example of Flexible Strategic Management; and Feedstock Availability in GCC - Current Situation & Future Trends. The open discussion session for the second day will be devoted to discussing the international investment in GCC petrochemical industry.

The conference is held under the patronage of H.H. General Sheikh Mohammed Bin Zayed Al Nahyan, Crown Prince of Abu Dhabi, and the participation of their Excellencies the ministers of industry in GCC member states. Gerhard Schroder, Chancellor of the Federal Republic of Germany; and Prof. Joseph E. Stiglitz, Nobel Prize Recipient in Economics in 2001 are keynote speakers in this event, further to a group of international and regional speakers.

The production capacity of Ethylene, the basic material in petrochemicals industry, in GCC member states reached over 10 million tons in 2007, thus constituting some 9% of the global production capacity of this material. It is expected to rise to 15% in 2020. Middle East countries share of the global Ethylene production capacity is some 11%, and expected to rise to 22% by 2020; with a GCC share of some 65%.