Background

The Petrochemicals Industry represents one of the fundamental pillars of the GCC economy. Over the last two decades, the Petrochemicals industry in most member states experienced an unrivaled phase of sustained growth, that is expected to continue unabated in the foreseeable future. Indeed there is a widespread consensus that the Region is extremely well positioned to take a leading role in the Petrochemicals industry throughout the 21st century.

Available data provides support for these positive expectations as 40 billion US Dollars of new investments are expected by 2010. For example in Ethylene, one of the fundamental Petrochemical products, half the world’s capacity growth in the next five years will be concentrated in the Middle East. As a result, by 2010, Ethylene production from Iran and the GCC member states will double to 20 percent of global capacity.

On the other side, sustained economic expansion, led by the rising demand from China and South East Asia, has driven up costs for raw materials and basic equipment. As a result, the sector is competing harshly with other growing sectors of the global economy to attract human resources and inputs, crucially needed for the new infrastructure projects.

Finally, emerging climate change concerns worldwide are dictating the policy agenda even in the US where the current administration had long resisted such drive. A common response also for the GCC involves efforts to boost innovation through scientific research, application of lower-carbon technologies, and a clear regulatory response which would encourage the efficient use of resources.

The Industrialists’ Conferences Series

One of GOIC’s key accomplishments is the dissemination of awareness and information, for the industrial development of the GCC region. In order to successfully complete this task, GOIC frequently holds symposiums and conferences that facilitate the development process.

The most important series of conferences through the years has been the Industrialists’ Conference. Industrialists’ Conferences have been organized every two years in one of the GCC states and are regularly attended by the Ministers of Industry of all GCC states. A wide range of businessmen and industrialists from around the world also participate to these high caliber events.

Every conference is held around a particular theme that is related to GCC industrial development. Specialized papers are presented for deliberation in open sessions and published after the event together with the recommendations of the conference.

There is no doubt that the Petrochemical Industry represents the main economic pillar in the entire GCC Region, witnessing substantial development during the last two decades, whilst the potential for more growth remains steadfast and unyielding within the foreseeable future. As such, GOIC has selected the Petrochemical Sector - A Vision for 2020, as the theme for the upcoming Industrialists’ Conference.

For such a high caliber Conference, GOIC is bringing together top level experts from across the globe to contribute with their know-how and share their vision on the industry. It will be the opportunity to hear about the latest on the regional Petrochemical Industry trend and growth, as well as meet and interact with respective ministers and senior policy makers from the GCC, along with decision makers, industrialists, investors and key industry players, both regional and international.

Table of Industrialists' Conferences organized so far by GOIC