GCC can play key role in advancing circular economy: experts
However, the formulation of Public Private Partnerships (PPPs), government incentives and regulations will be essential to drive meaningful impact on plastic waste management and circularity.
Speaking at the 14th Gulf Petrochemicals and Chemicals Association (GPCA) Plastics Conference at the JW Marriott Hotel, Riyadh, Saudi Arabia, industry leaders agreed that innovation and collaboration will be crucial to foster economies of scale and advance sustainability, while enabling industry growth.
Delivering the welcome remarks on Day 1 (April 20), Khalfan Al-Muhairi, SVP Regional MEAE, Borouge and Vice-Chairman, Plastics Committee, GPCA, commented: 'As we look toward the future, one thing is abundantly clear: the journey ahead cannot be undertaken alone. It demands a collective, unwavering commitment from all of us — from industry leaders to policymakers, from innovators to our communities and youth. Together, we must align our ambitions, mobilize our resources, and take decisive action to address the challenges and opportunities that lie before us.'
Deena F. Al-Khayyal, Managing Director, LyondellBasell (LYB), delivered a keynote address on the future of plastics and impact of key trends and disruptions on the regional industry. Her speech explored the evolving landscape of the plastic industry and ways in which increasing regulatory pressures and shifting consumer demands are influencing the sector.
A leadership dialogue, moderated by Steve Jenkins, Vice President, Chemicals Consulting, Wood Mackenzie, featuring Khalid Al Dawood, Managing Director, NATPET; Unmesh Nayak, President – Polymer Chain, Reliance Industries; and Dr Apostolos Krallis, VP, Innovation Centre, Borouge, delved into the financial dimensions of transitioning to sustainable and circular plastics. The conference continued with sessions on investment in plastics ecosystems, turning plastic waste into high-impact solutions, the future of plastics circularity and a series of valuable case studies.
Dr Abdulwahab Al-Sadoun, Secretary General, GPCA, commented: 'Driving meaningful solutions to plastic waste management is no longer a choice; it's an urgent necessity. A comprehensive approach will require government incentives and regulations that foster investment while providing clarity and confidence to investors and technology providers. Advanced recycling technologies, such as chemical recycling, are poised to play a vital role in this transition.'
He added: 'To unlock new opportunities, scaling up investment in advanced recycling infrastructure is imperative. Key actions include promoting Public Private Partnerships (PPPs), establishing regional standards, and fostering economies of scale. Supporting innovation and nurturing circular economy startups will also be critical to developing smart and sustainable solutions that can transform the future of plastic waste management.'
The 14th GPCA Plastics Conference, which concludes today (April 21), featured an opening address by Naser Aldousari, CEO, EQUATE Group and Chairman – Plastics Committee, GPCA.
During the conference, GPCA released a new report in collaboration with the King Abdullah Petroleum Studies and Research Center (KAPSARC), titled 'Advancing Plastic Waste Recycling in the GCC: Policies, Technologies, and Economic Opportunities.' The report provides an in-depth examination of the state of plastic waste recycling in the GCC and serves as a vital resource for stakeholders aiming to improve plastic waste management practices and policies in the region. – TradeArabia News Service
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