The Middle East market continues to be a desirable market for long-term growth due to rapidly developing regional economies and increased demand for petrochemical products, said an expert.

The global crisis is making conditions difficult for all petrochemical companies. However, Middle East is a safe bet thanks to the rapidly developing economies and demand for petrochem products, said Rose Anwar of MEGlobal, a petrochemical company operating out of the Dubai Airport Free Zone (DAFZ).

A joint venture between the Dow Chemical Company (Dow) of the United States and Petrochemical Industries Company (PIC) of Kuwait, MEGlobal was set up in July 2004.

MEGlobal is the exclusive marketer of Monoethylene Glycol (MEG) and Diethylene Glycol (DEG) produced by Equate Petrochemical Company of Kuwait. These products are marketed and sold to a wide customer base in the Middle East, Europe, and Asia.

“MEGlobal is a perfect example of a company that takes advantage of the strategic location of the DAFZ to be close to emerging markets in the Indian Subcontinent, the Middle East and Arica,” said Mohammed Bin Suwailem , director sales, DAFZ.

Anwar said MEGlobal’s primary focus was to promote the market in India, Pakistan and Latin America. “We are growing our market position in the emerging markets in these regions, so the Dubai headquarters is an ideal location for accessibility to these key economies.”-TradeArabia News Service