D-8 will have Petrochemical Industry Meeting in Tehran, February 20, 2008

Tehran, Iran | February 13, 2008 by D-8 Secretariat

Recalling the discussion between the Secretary General of D-8 and the Secretary General of OIC last June 2007, in Jeddah Saudi Arabia, D-8 and OIC agreed that both would have join cooperation in every occasions whenever the possibilities are available. One of the ideas is to have a back-to-back meeting/workshop/capacity building, before and/or after the occasions would be implemented by OIC and/or D-8.

In this opportunity, on February 17-19, 2008, OIC will have the 3rd Investment and Privatization Conference in Tehran, Iran. In addition, Iran Commissioner proposed a program on Petrochemical Industry Meeting in 2008. In this occasion, the Secretariat proposed to Iranian Commissioner, possibility of having back-to-back meeting for D-8 Meeting on Petrochemical Industry.

The objectives of D-8 Meeting on the Investment and Privatization in Petrochemical Industry (D-8 IPPI) :

The main objective of D-8 Meeting on the Investment and Privatization in Petrochemical Industry (D-8 IPPI)is to invites delegates of member-states, both represented the interest of government (state-owned enterprises) and private sector, into a thought provoking discussions on the most contemporary issues, latest developments and trends and the most up-to-date thinking in the potential and fast growing of the areas of petrochemical industry, considering D-8 natural resources abundance, into a concrete D-8 cooperation program for investment and privatization .

The Meeting of D-8 IPPI has also objectives to identify potencies, opportunities, and challenges, on the issue of investment and privatization , as well as to attempt to facilitate the meeting among the stakeholders, such as government/regulators, SOEs, companies, investors, and financial institutions/banks to share information and experiences how D-8 petrochemical industry will be supported to grow and how cooperation could be encouraged.

The D-8 IPPI Meeting focuses on issues and exchange information related to the potential growth and cooperation of the petrochemical industry and business, that allow delegates have ideas how a cooperation program, with a timeframe, could be well prepared and implemented.

Four sessions will cover the following topics of interest:

• Overview of the potencies, opportunities, challenges and threats of  Petrochemical Industry cooperation within D-8 countries. Each delegates is expected to present the issues in their countries;
• Reviews of some of investment and privatization within D-8 countries for example how Iran and Indonesia cooperate to invest and build fertilizer industry in Iran; how Iran and Malaysia agreed to invest a refinery plant; how an Indonesian private company invest and cooperate for a Pure Trephtalyc Acid (PTA) plant in Nigeria and Fertilizer industry in Egypt; how Iran and Indonesia plan to have investment for a refinary in Bojanegara, etc;
• Facilitating D-8 petrochemical cooperation program: capacity building, regular meetings, training, clearing house of information through website and networking; feasibility studies; finance, including to consider sukuk (Islamic bonds) for investment; etc; and
• Developing a proper collaborative platform on the petrochemical industry/ business between the regulators and private sectors.

The Expected Outcomes of The D-8 IPPI Meeting expect to reach a set of outcomes such as to support the cooperation in the field of petrochemical industry in a well concrete program, to organize meetings and conferences regularly to discuss the most important developments concerning the regulation and business potencies; to increase communications and sharing information among companies and industrialists; and to plan for sufficient training and research program (including program for 2008-2018), and to do feasibility studies of identified cooperation projects.

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