Table 4 - uploaded by Philipp Galkin
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Petrochemical products, particularly plastics, contribute to a significant share of expanding and increasingly diverse trade flows between the Gulf Cooperation Council (GCC) countries and China. The petrochemical sector could benefit from a preferential bilateral trade regime between China and the GCC, but has been a bone of contention in the GCC-C...
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Citations
... The second option can reduce its tariff gap with RCEP exporters, which would otherwise only increase over time, and provide significant economic benefit for both parties. (See Galkin et al. [2018] for an estimation of the gains from the liberalization of trade in plastics between the GCC and China). ...
Saudi Arabia has strong economic ties with the RCEP economies, which accounted for over 50% of total Saudi exports in 2019The impact of the RCEP will likely be more substantial on intra-regional trade and outside import flows of plastics and organic chemicals. The products in these categories rank second and third in Saudi Arabia’s total exports, with respective values of US$19.0 billion and US$12.7 billion in 2019. The export-driven plastics and organic chemicals industries are also essential to Saudi Arabia’s economic diversification and development strategy.
