Dubai, United Arab Emirates, September 27, 2017 – Fertilizer producers in the Arabian Gulf region are uniquely positioned to capitalize on future opportunities for growth and unlock more value from their business, said speakers during the 8th GPCA Fertilizer Convention which took place in the Ritz Carlton, Bahrain on 26-28th September.
Opportunities exist to increase resilience and capture more value from existing assets by focusing on operational efficiency, supply chain integration, portfolio diversification and providing innovative fertilizer products and services that support crop productivity and improve fertilizer use.
The 8th GPCA Fertilizer Convention was held under the patronage of His Excellency Shaikh Mohamed bin Khalifa bin Ahmed Al- Khalifa, Minister of Oil, Kingdom of Bahrain, who delivered the inaugural address highlighting the major opportunities to grow the GCC’s role as a global production hub for high quality fertilizers. Addressing the changing energy landscape and its profound impact on the fertilizer market, His Excellency stressed on the role of efficiency in improving performance and cost, and technology as a fundamental game-changer that will “benefit the industry significantly”.
The minister also pointed to the promising opportunities presented to the GCC, despite current market uncertainties, oil price volatility and slow economic growth. He further expressed his confidence in the potential of the region, stressing the ability of the fertilizer industry to improve and create effective food systems through cooperation that will directly benefit the improvement of the local agricultural sector and contribute positively to regional GDP.
Delivering the opening address of the GPCA Fertilizer Convention, Dr. Abdulrahman Jawahery, President, GPIC and Chairman, GPCA Fertilizer Committee, called for greater government-industry collaboration to develop regulations that are conducive to the sustainable growth of the regional fertilizer industry and agricultural sector. He also urged the industry to forge partnerships, share knowledge and collaborate with world-class academic and research institutes to ensure the development of the industry’s future leaders.
Dr. Abdulwahab Al-Sadoun, Secretary General, GPCA, commented: “While rising self-reliance in key GCC export markets such as India and the US will continue to present a key challenge for Arabian Gulf fertilizer producers, opportunities exist to invest in emerging regions looking to capitalize on low cost gas assets or growing fertilizer markets.”
“The 8th GPCA Fertilizer Convention provides a much needed platform for global and regional leaders to collaborate, share knowledge, network and discuss some of the most pressing challenges impacting the fertilizer industry, and look into the future for opportunities to grow strategically in this highly competitive market,” he added.
In line with GPCA’s commitment to support talent development and STEM education in the region, the convention hosted the 4th edition of Leaders of Tomorrow, an initiative launched by GPCA and supported by its members, aimed at building local human capital in the region and providing an overview of the skill set required to face new challenges. This edition was sponsored by SABIC.