The sustainability of competitiveness in the Middle East's petrochemicals industry was top of the agenda at a major conference that opened in Bahrain yesterday.

Hundreds of delegates are in Bahrain for the seventh annual Middle East Petrochemicals 2008 at the Sheraton Hotel.

Logistics and distribution providers, management consultants, bankers, lawyers and technology providers are attending the two-day event, organised by Middle East Economic Digest (Meed).

Meed chairman Edmund O'Sullivan opened the conference, while Tasnee Petrochemicals chief executive officer Moayyed Al Qurtas spoke about the long-term strategy for the industry during a keynote speech.

Panel discussions focusing on Iran's future for the sector, upstream and downstream investment opportunities and the affects of the worldwide economic slowdown and currency volatility on trade flows and product prices were also held.

The Middle East is expected to control more than 40 per cent of all global petrochemical capacity by 2011 and the region has $128 billion worth of projects already under construction or in the pipeline.

Merchant banking firm Taylor Dejongh's director Tim Holder is among the delegates from Bahrain.

They will today tackle distribution strategies in a rapidly growing and diversifying market, how technology can address the challenges of the petrochemicals industry and the role of international oil companies in the market.-TradeArabia News Service