Petrochemical chiefs to discuss challenges

Dubai: The global financial crisis will be a key topic for discussion when petrochemical industry leaders gather at the third annual forum of the Gulf Petrochemicals and Chemicals Association (GPCA) on Wednesday and Thursday at the Atlantis Hotel.

Attendees at the Middle East's largest petrochemicals conference will have much to discuss as the global economic crisis has exacerbated the sector's cyclical decline, which had already been forecast to begin late in 2008.

Industry leaders will focus on means of tackling the difficult times even as several global producers report year-on-year demand declines of 20 per cent or more.

HSBC Securities Inc Managing Director Hassan Ahmad will make a presentation titled The Financial Crisis: Where Does the Global Chemical Sector Go from Here?

The impact of a steep downturn in the petrochemical cycle will also be addressed as part of other sessions throughout the programme's agenda.

"We are very pleased with the world-class agenda we have developed for this year's GPCA Forum," said Abdullah Bin Zayed Al Hagbani, secretary-general of the Dubai-based GPCA.

"The forum offers a comprehensive programme of timely, relevant general sessions that have been designed to address the issues affecting today's global petrochemicals industry," he said.

Mohammad Al Madi, chairman of GPCA and vice chairman and chief executive officer of Sabic, will make the welcoming address.