China targets Mid East's $33 billion chemicals market
Chinese businesses are targeting the Middle East's $33 billion petrochemical and chemical markets with the country’s first ever national pavilion at Chemtex and Corrosion Middle East 2003, the region's international exhibition for the chemical, petrochemical, chemical process technology, corrosion control and management industries.
Organizers International Expo-Consults (IEC) say the Chinese pavilion, that will occupy 200 square meters and house 22 exhibitors, reflects growing Far East interest in regional markets. ”With its low labor and production costs, China is a sleeping giant in the international petrochemical and chemical industry,” said Mohammed Falaknaz, IEC vice president. “But it is beginning to awaken and focus on lucrative overseas markets, such as the Middle East.”
“Industry sources suggest this year and next will see strong regional growth, with the peak in the petrochemical cycle arriving in 2005/6, fuelling already robust demand for technology and suppliers in both the chemicals and corrosion sectors,” he said. “With a visitor footprint taking in the entire Middle East and North Africa, as well as the Sub-continent and CIS, next month's exhibition will open the door to markets where demand for machinery, equipment and raw materials continues to soar.”
In addition to China, both Korea and India will have first time national pavilions at Chemtex and Corrosion Middle East 2003, to be held at the Dubai International Exhibition Center, from March 4-6. Canada will have an industry pavilion. — (menareport.com)
© 2003 Mena Report (www.menareport.com)