MOU signed by members of Gulf Petrochemicals and Chemicals Association (GPCA)

The Middle East Petrochemical Industry has reached a landmark with the launch of the Gulf Petrochemicals and Chemicals Association (GPCA). A Memorandum of Understanding has recently been signed by the founding members of the Gulf Petrochemicals and Chemicals Association to create the first voluntary, non-profit association of its kind in the Middle East. Mohamed Al-Mady, Vice Chairman and CEO of Saudi Basic Industries Corporation (SABIC) has been elected as the first Chairman of the GPCA. The GPCA will be managed by a Board of Directors elected by the founding members. The founding members of the GPCA are Borouge Pte Ltd (BOROUGE) - UAE, EQUATE Petrochemical Company (EQUATE) - Kuwait, Gulf Petrochemical Industries Company (GPIC) - Bahrain, Petrochemical Industries Company, (PIC) - Kuwait, Qatar Vinyl Company (QVC) - Qatar, Qatar Petrochemical Company (QAPCO) - Qatar, Saudi Basic Industries Corporation (SABIC) - Saudi Arabia and Tasnee Petrochemicals (TASNEE) - Saudi Arabia. The chief role of the GPCA is to identify, address and manage the common interests of its members by utilising the consolidated resources of the association. This cooperation will also be extended to other similar organisations outside the Gulf region. The GPCA was created based on the concept of offering its members networking opportunities through various platforms to meet and share knowledge; exchange opinions and experiences, promote free and fair trade and competition; and advocate the development, growth and prosperity of the petrochemicals and chemicals industry and related businesses in the Gulf. The group will facilitate efficient addressing of issues like environmental issues, safety and regulation, logistics, education, standardisation and the promotion of the petrochemicals and chemicals downstream industry. In addition to acting as the industry's spokesperson in all matters of public interest and general concern, the GPCA aims to encourage research related to the industry and provide solutions to scientific and technical issues, promote human resource development within the industry and organize industrial conferences and seminars. Through this, it will promote the relationship and mutual co-operation among companies, institutions, research centres, organisations dedicated to the industry's safety and environmental matters, products standardisation authorities and committees, and other organisations and non profit bodies related to the industry.