SABIC reaffirms commitment to China’s growth

(chinadaily.com.cn)
Updated: 2011-09-12

Tianjin - SABIC reaffirmed its commitment to support China’s national development priority for sustainable growth at the China Petroleum and Chemical International Conference (CPCIC) 2011.

In his keynote address, Abdullah Bazid, executive vice president of Corporate Strategy & Planning, SABIC, elaborated on the strategic importance of China to SABIC.

“As a global market leader in the petrochemical industry, SABIC has already established a strong market position in China generating double digit growth year-on-year. The Chinese Government’s focus on developing the western regions in China is in line with SABIC’s ambition to assiduously explore investment opportunities, especially the western regions to better serve our customers and new industries in these emerging markets.”

Abdullah Bazid also emphasized the strong bilateral international trading relations between China and Middle East, and how this trading partnership continues to strengthen between the two dynamic economies.

“China Petrochemical & Chemicals growth is expected to continue with strong linkages to its GDP growth rates and strong domestic production growth with aggressive project constructions. This highlights good opportunities for China and Middle East petrochemical industries to cooperate as growth partners to optimize the usage of the scarce hydrocarbon resources in the global marketplace.”

SABIC believes that it has an important role to play in support of inclusive economic growth and development across the world. In China, SABIC aims to be a catalyst for inclusive development by stimulating economic growth as an investor and employer, and improving quality of life through its technologies and products.

Themed “The Next Five Years: Building a Foundation for Sustainable Growth”, the annual event provided a platform for SABIC, industry partners and players to discuss about China’s petrochemical industry growth strategies in the context of China’s new 12th Five-Year Plan.