The Saudi Exports Promotion Center (SEPC) strongly expressed regret towards the Indian Government decision to levy what they called flooding charges on Poly Proplin, a Saudi pertrochemical product, amounting to more than 22 percent under the pretext that the feedstock is available in the Kingdom of Saudi Arabia in less prices than in India. In a press release, the Executive Council's President of SEPC Dr. Abdulrahman Al-Zamel said today that his organization has undertaken the responsibitlty of promoting cross trade between the Kingdom and freindly countries, including India, which was considered a strategic partner over the last years upon royal instruction of our prudent leadership and emanating from the importance of encouraging cross trade among developing countries. He expressed regret of the Indian step describing it illogical as India ignored the fact that the Kingdom possesses a preferential characteristic of availability of natural gas locally as well as the the near location of Saudi and foreign petrochemical producers to gas sources in addition to gas low production cost in the Kingdom compared to other producers, including India. The statement quoted the Gulf Region for Chemicals and Petrochemicals statement as describing the Indian move as unacceptable citing the same reasons drawn by Saudi Arabia. He said the Kingdom has proved during negotiations to enter the World Trade Organization that its petrochemcal prices were based on commercial bases with reasonable profits for gas producers in the Kingdom, a logic accepted and approved by all WTO members, including India. The statement regrets India's indifference towards repeated attempts by Saudi concerned authorities to convince it of their views over the last months. SEPC noted that Saudi petrochemcial exports to India don't exceed SR180 million while its free or low-duty exports to Saudi Arabia earn billions, with Saudi Arabia not taken any protectionist step. The statement uged the Saudi government not wait for the result of the issue before the WTO arbitration. Instead, decisive steps to protect our national intersts should be taken, the statement concluded.
