Octals pet resin gives opportunity for export to Canada – Raising the profile of Omani exports worldwide and boosting bilateral trade opportunities between Oman and Canada, Octal one of the sultanate’s principal exporters – Octals pet resin export Canada - Arhive

This content has been archived. It may no longer be relevant
Octals pet resin export Canada Octals pet resin export Canada  Octals pet resin export Canada  Octals pet resin export Canada  Octals pet resin export Canada  Octals pet resin export Canada  Octals pet resin export Canada  Octals pet resin export Canada  Octals pet resin export Canada  

Octals pet resin gives opportunity for export to Canada

Octals pet resin export Canada OTTAWA: Raising the profile of Omani exports worldwide and boosting bilateral trade opportunities between Oman and Canada, Octal one of the sultanate’s principal exporters, joined hands with the Omani Ministry of Commerce and Industry to ensure that exports of Omani polyethylene terephthalate resin (PET resin) are uninterrupted to Canada without any additional duties imposed.

The win for Omani industry came in the wake of an inquiry conducted by the Canadian International Trade Tribunal into the effect of dumping and subsidising of PET resin originating in or exported from China, India, Pakistan and Oman on Canadian industry, which resulted in the finding of ‘negligible’.

Octal’s CEO, Nicholas Barakat, said, “Oman has a window of opportunity to accelerate economic growth and stimulate job creation and investment opportunities by continuing to foster a progressive international trade policy,” said. “The ongoing implementation of Oman’s diversification agenda, boosting of exports and investment for the future by nurturing innovation are key elements for Oman to achieve its economic development aspirations.”

Barakat added, “The win for Omani PET resin in the Canadian market is a real testament to Omani manufacturing, its capabilities and most importantly, its promise for the country’s growing exports and international trade, which is increasingly considered the modern engine of prosperity.”

The size of the economy in Oman has been growing steadily and market conditions are stable.

Oman and Canada have a growing trade and investment relationship. Canada’s export credit agency, Export Development Canada classified Oman as a key market for Canadian businesses and investment.

Octal’s reputation as a global leader in PET manufacturing has been driven by its strong dedication to international standards at every stage of production.

Related Topics

-Americas petrochemicals outlook: w/c Apr 16 – Spot ethylene has been on the rise, 0.50 cent/lb higher than the record lows seen April 9 after prompt-month was heard offered at 14 cents/lb MtB Nova – Americas petrochemicals outlook

-Motiva considers ethylene, aromatics projects in US – Motiva Enterprises signed $8bn-10bn worth of memoranda of understanding (MoUs) covering process technologies for possible ethylene and aromatics units in the US – Motiva ethylene aromatics projects USA

-US spot ethylene falls to 16-year low amid tariff concerns – US spot ethylene traded at a 16-year low on Friday amid long supply and concerns about proposed Chinese tariffs on chemicals – USA spot ethylene chemicals

-The initial price for MEG in Europe for April deliveries fell by EUR20 per tonne – The initial contract price of monoethylene glycol (MEG) in Europe for April deliveries was agreed at the level of EUR965 per tonne, which is EUR20 per ton lower than the March contract prices – Price MEG Europe April

-China’s MEG up in anticipations of better supply-demand for Q2 – China’s MEG market has remained rangebound for around two weeks, and domestic spot prices shivered around 7,000yuan/mt – China MEG prices market

-Prices MEG in the US may fall in April  – It is expected that prices of monoethylene glycol (MEG) in the US will decline in April due to a weakening of demand between peak seasons – Prices MEG USA April 

-AFPM ’18: EQUATE’s US MEG plant begins construction phase – CEO – AFPM 2018 EQUATE USA MEG

-Sabic reduced the April price of MEG by USD55 per tonne – Sabic, the largest Saudi petrochemical company, has lowered the contract price of monoethylene glycol (MEG) to supply material to the Asian market in April at USD55 per tonne compared to the March price level – Sabic April price MEG

-MEGlobal lowered the April contract price of MEG in Asia by USD80 per tonne – MEGlobal, the world leader in the production of monoethylene glycol (MEG) and diethylene glycol (DG), set the April contract price for MEG for Asia at USD1,100 per tonne – MEGlobal April contract price MEG Asia4

-China polyester to drive MEG, but oversupply fears – China polyester MEG oversupply – Robust demand from polyester production in China is expected to drive the Asian monoethylene glycol (MEG) market in the first half of 2018