Petrochemical giant Saudi Basic Industries Corp (SABIC) has announced the reopening of its office in Iraq during its participation in the seventh session of the Basra Oil and Gas Conference and Exhibition.
The exhibition convened on Tuesday in the Iraqi city of Basra with the participation of a large Saudi delegation from the public and private sectors under the umbrella of the Saudi Export Development Authority.
The company said that the reopening of its office comes in the context of seeking to expand and taking advantage of the opportunities offered by the Iraqi market.
Vice President, Corporate Strategy & Planning for Kingdom of Saudi Arabia, Middle East & Africa Dr. Talaat Dhafer said that this participation comes in line with SABIC’s keenness to contribute in any effort that aims at encouraging the diversification of the national economy.
“When SABIC participates in such qualitative exhibitions, it achieves the objectives of Vision 2030 and its strategy for the year 2025 as it seeks to raise the volume of Saudi exports abroad, which constitutes a new source of income away from oil,” head of SABIC’s delegation in the exhibition said.
He added that through its participation in this exhibition, the company starts achieving what it seeks to become the world's leading chemical company.
In addition to SABIC, 13 Saudi companies are participating in the event under the umbrella of the Saudi Export Development Authority, which seeks to promote a promising commercial and investment environment between Saudi Arabia and Iraq, allowing Saudi companies to explore new export opportunities that contribute to achieving the government's aspirations to raise the value of non-oil revenues.
The company also participated in the 44th session of the Baghdad International Fair in October, offering a wide range of applications and solutions that stimulate sustainable development in the world.