Royal Institute of Traditional Arts implements Saudi-Chinese cultural exchange program    Localization in Saudi military industries rises to 19.35%    Logistics park for vehicles worth SR300 million to be set up at Dammam port    Commerce Ministry recalls 6,500 Genesis cars due to risk of fire    HONOR KSA expands its presence with new flagship Experience Store in Riyadh HONOR's first flagship store in KSA provides visitors with a premium experience, exciting offers and free services    Saudi, Iranian foreign ministers discuss Oman-mediated talks with US    Prince Sultan University launches first bachelor's program in language and media    Al-Falih: Eastern Province hosts 700 investment opportunities worth SR330 billion    Putin announces three-day Russian ceasefire in Ukraine from 8 May    Crown Prince donates SR1 billion to support housing for eligible families    Pakistani military says it killed 54 militants attempting to cross border from Afghanistan    Suspect charged after Vancouver car ramming leaves 11 dead    Eight hundred Houthi targets hit after weeks of strikes, says US    Rock & Roll Hall of Fame picks Outkast but not Oasis    Duran leads Al Nassr past Yokohama Marinos into AFC Champions League Elite semi-finals    Al Ahli cruise past Buriram into AFC Champions League Elite semi-finals    Saudi orchestra to perform at Sydney Opera House in May    Al Hilal thrash Gwangju to reach AFC Champions League Elite semi-finals    Saudi Theater Commission launches its Work and Learn Project in UK    The season has begun — and one comment shook us all    Pakistani star's Bollywood return excites fans and riles far right    Veteran Bollywood actor Manoj Kumar dies at 87    Bollywood actress vindicated over boyfriend's death after media hounding    Grand Mufti rules against posting prayers and preaching in mosques on social media    Exotic Taif Roses Simulation Performed at Taif Rose Festival    Asian shares mixed Tuesday    Weather Forecast for Tuesday    Saudi Tourism Authority Participates in Arabian Travel Market Exhibition in Dubai    Minister of Industry Announces 50 Investment Opportunities Worth over SAR 96 Billion in Machinery, Equipment Sector    HRH Crown Prince Offers Condolences to Crown Prince of Kuwait on Death of Sheikh Fawaz Salman Abdullah Al-Ali Al-Malek Al-Sabah    HRH Crown Prince Congratulates Santiago Peña on Winning Presidential Election in Paraguay    SDAIA Launches 1st Phase of 'Elevate Program' to Train 1,000 Women on Data, AI    41 Saudi Citizens and 171 Others from Brotherly and Friendly Countries Arrive in Saudi Arabia from Sudan    Saudi Arabia Hosts 1st Meeting of Arab Authorities Controlling Medicines    General Directorate of Narcotics Control Foils Attempt to Smuggle over 5 Million Amphetamine Pills    NAVI Javelins Crowned as Champions of Women's Counter-Strike: Global Offensive (CS:GO) Competitions    Saudi Karate Team Wins Four Medals in World Youth League Championship    Third Edition of FIFA Forward Program Kicks off in Riyadh    Evacuated from Sudan, 187 Nationals from Several Countries Arrive in Jeddah    SPA Documents Thajjud Prayer at Prophet's Mosque in Madinah    SFDA Recommends to Test Blood Sugar at Home Two or Three Hours after Meals    SFDA Offers Various Recommendations for Safe Food Frying    SFDA Provides Five Tips for Using Home Blood Pressure Monitor    SFDA: Instant Soup Contains Large Amounts of Salt    Mawani: New shipping service to connect Jubail Commercial Port to 11 global ports    Custodian of the Two Holy Mosques Delivers Speech to Pilgrims, Citizens, Residents and Muslims around the World    Sheikh Al-Issa in Arafah's Sermon: Allaah Blessed You by Making It Easy for You to Carry out This Obligation. Thus, Ensure Following the Guidance of Your Prophet    Custodian of the Two Holy Mosques addresses citizens and all Muslims on the occasion of the Holy month of Ramadan    







Thank you for reporting!
This image will be automatically disabled when it gets reported by several people.



Supply chain optimization crucial for evolution of Gulf petrochem industry: GPCA
Published in The Saudi Gazette on 27 - 04 - 2015

JEDDAH – With GCC chemical exports reaching $54.6 billion, streamlining supply chain functions will be the key to maintaining a competitive advantage, says the Gulf Petrochemicals and Chemicals Association (GPCA), ahead of the annual GPCA Supply Chain Conference.
"The Arabian Gulf region is ideally placed to capitalize on forecasted growth in Asia and Africa over the next five years, utilizing export-oriented strategies in order to flourish, said Dr. Abdulwahab Al-Sadoun, Secretary-General, GPCA. "To meet this growing demand, bold steps must be taken to help drive seamless trade of goods and services throughout the region and to push forward for a GCC customs union. It is only through a coordinated and forward thinking approach that the GCC's ambitious economic development goals for 2020 can be met."
The GCC exported approximately 80% of its total product portfolio to more than 80 countries last year, amounting to 66.1 million tons of chemicals, according to GPCA estimates. As the petrochemical industry is forecast to grow by 6% every year by the end of this decade, with the region producing over 190 million tons of petrochemicals by 2020, exports will account for a sizable share for forthcoming capacity, said the GPCA.
Increased competition and the need for product differentiation puts new and unique pressure on supply chains in the GCC, said Dr. Sadoun. "Infrastructures in the GCC are undergoing transformational changes, with new networks, facilities and capabilities coming online, to leverage economies of scale and meet growing demand. We must continue to finance the development of 'hard' infrastructure that makes up the backbone of all good supply chains, but also continue to invest in 'soft' infrastructure like training, education and customer service to take the GCC supply chains to the next level."
The GPCA Supply Chain Conference, now in its 7th edition, will be held at Dubai's Intercontinental Festival City on May 3- 5, 2015. Held on the theme of 'Strengthening the Supply Chain Backbone - Paving the Way Forward for 2020', the conference gathers top executives from petrochemical companies, ports, consultancies and customs authorities to explore strategies that improve accessibility to and from the GCC that help the region achieve its developmental goals. — SG


Clic here to read the story from its source.