Tissue World Magazine | Operations Report
WITH GLOBAL TISSUE CONSUMPTION PROJECTED TO DOUBLE IN TWO DECADES, ONE KSA COMPANY IN A RAPIDLY DEVELOPING REGION REVEALS AMBITIOUS PLANS TO SHARE THE MARKET GROWTH The newly announced India-Middle East-Europe Economic Corridor (IMEC) will add even greater incentive to the rising young population and tourism boom fuelling growth. For the Middle East Paper Company the decision to diversify into tissue is paying off. Senior Editor Helen Morris spoke to Chief Commercial Officer Ahmed El Fazary.
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t the G20 Leaders’ Summit in September, India’s Prime Minister Narendra Modi officially acknowledged the scale of possibility for growth in the Middle East when he announced the Indian Middle-East Europe Economic Corridor (IMEC).
“Very ambitious growth plans”: Chief Commercial Officer Ahmed El Fazary, MEPCO
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A new acronym was created, and with it confirmation of how vital the region’s trading bloc will continue to be over the coming years. The IMEC economic corridor is designed to link India, the Middle East and Europe, and will solidify the region’s historic position as a primary trade route. The Kingdom of Saudi Arabia (KSA), the UAE, India, France, Germany, Italy, the US, and the EU have signed the deal, which will comprise two separate corridors: the east corridor will connect India to the Arabian Gulf and the north corridor connecting the Gulf to Europe. The transnational shipping and railway corridor is expected to counter China’s Belt and Road initiative, moving goods from India to UAE’s Fujairah Port on to Israel’s Port of Haifa via Saudi Arabia and Jordan. From Haifa Port, goods from India and other Asian countries will be shipped to Europe. It will also, undoubtedly, substantially increase demand and smooth supply chains for tissue and towel products across the region.
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08/10/2023 08:00
