GCC-EU polymers trade incurs $200/ton losses, says SABIC official

The Gulf Cooperation Council and European Unions polymers trade in 2013-2014 recorded losses amounting to $200 per ton, said Mosaed Al-Ohali, executive vice president, polymers at SABIC.

This is due to rising import tariffs, increasing labor costs, and a growth in inflation, he said at the 6th annual GPCA Plasticon conference in Dubai.

The GCC’s competitive advantage lies in low utilities, labor costs, and strategic location. However, the scene is unstable, he pointed out.

Despite these obstacles, the market has great potential as emerging economies start to outpace their advanced counterparts, he added.