SABIC attends BRICS Business Forum 2022

Looking ahead to economic recovery and mapping the future of re-globalization

Yesterday, the 2022 BRICS Business Forum, chaired by Chinese Vice Premier Hu Chunhua, was successfully held in Beijing. At the forum, SABIC, a world-renowned diversified chemical company, emphasized the importance of cross-border trade, foreign investment and knowledge sharing, and pointed out that these can strengthen the resilience of the world economy in the short term and improve the adaptability of the world economy in the long run.

While participating in a special seminar aimed at exploring how to "uphold an open concept and promote the recovery of the world economy," Youssef Al-Benyan, Vice Chairman and CEO of SABIC, emphasized that promoting international trade will provide effective guarantees for supply diversity, and said: "The more types and the wider the scope of trade flows, the more resilient the world economy will be in the face of unknown turmoil." On this basis, Al-Benyan further emphasized that releasing capital liquidity and strengthening the exchange of expertise will bring long-term benefits regarding how global companies can better adapt to future development trends and move towards sustainable development faster.

Al-Benyan believes that the key to building a more open world where trade, investment and knowledge can flow quickly is to carry out broader and deeper collaboration. He called on the public and private sectors, various governments and non-governmental organizations to "work closely together to promote international exchanges, revitalize the world economy and promote sustainable development"; at the same time, he also shared SABIC's rich collaborative experience and excellent cases with other guests participating in the seminar, including Wang Shouwen, Vice Minister of the Ministry of Commerce of China, Chen Siqing, Chairman of the Industrial and Commercial Bank of China, and many business leaders from other BRICS countries.

As an important supporting event for the 14th BRICS Summit hosted by China this year, the BRICS Business Forum is widely regarded as an important platform for the business communities of the five countries to discuss cooperation and development. With the theme of "Deepening the BRICS Business Partnership and Creating a Bright Future for Global Development", this forum adopted the "BRICS+" model, effectively calling on a large number of business leaders from non-BRICS countries to jointly seek cross-regional collaboration.

For decades, SABIC has been committed to promoting its global growth strategy and advocating cross-regional collaboration and globalization. In order to deepen the dissemination of its corporate philosophy - "Chemistry Makes You and Me Success™", SABIC has also actively participated in a series of well-known exchange and cooperation platforms including the Boao Forum for Asia.

SABIC Vice Chairman and CEO Youssef Al-Benyan was invited to participate in the special seminar on "Adhering to the concept of openness and promoting the recovery of the world economy"

Notes to Editors

• SABIC and brands marked with ™ are trademarks of SABIC or its subsidiaries or affiliates. 

• SABIC must be capitalized in all cases.