85% of Gulf petchem products exported; customs levies raise uncertainty: GPCA

Abdulwahab Al-Sadoun, Secretary General of Gulf Petrochemicals and Chemicals Association (GPCA)

Over 85% of the Gulf's petrochemical production is exported to more than 100 countries, Abdulwahab Al-Sadoun, Secretary General of Gulf Petrochemicals and Chemicals Association (GPCA), told CNBC Arabia.

The volume of annual exports exceeded $85 billion, he added.

Gulf states are adopting an open market policy, Al-Sadoun said, noting that customs duties have introduced uncertainty into global trade.

China's policy of self-sufficiency in production has become a challenge for the Gulf petrochemical industry. However, Asia remains a promising growth market, while Africa has increasingly become one of the most significant emerging markets.