IHS Chemical Week

Regions :: Middle East :: Saudi Arabia

GCC petrochemicals set for export surge, GPCA says

3:47 AM MST | February 2, 2014 | Natasha Alperowicz

The GCC petrochemical industry is set to record an increase in exports in 2014 due to the World Trade Organization’s (WTO) Bali Package, the Gulf Petrochemicals & Chemicals Association (GPCA; Dubai) said today. The Trade Facilitation Agreement, adopted as part of WTO’s Bali Package at the end of 2013, creates binding commitments among member countries to increase customs efficiency and revenue collection by reducing bureaucratic procedures.   “The WTO’s deal on trade facilitation, if implemented in its true spirit, will reduce the...

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