Iran Should Counter Saudi Dumping in Petrochemical Market

Mir-Afzali told a press conference on Sunday that increase in price of different kinds of petrochemical feedstock, especially ethane, has created problem for competitivity in the world petrochemical markets.

He said any new decisions to change prices of petrochemical feedstock will make investment in the petrochemical industry less attractive.

He noted that regarding increase in price of liquid and gas feedstock, has brought profit of the petrochemical industry to less than the banking interest rate and at about 16 percent, resulting in capital flight.

He announced that Saudi Arabia whose petrochemical industry’s comparative advantage is less than that of Iran, has been capable to make extensive investment and have petrochemical products’ market under its control.