KUALA LUMPUR, Malaysia, Aug. 20, 2018 /PRNewswire/ -- Over 1,800 event delegates converged at the Kuala Lumpur Convention Centre today for the 39th Asia Petrochemical Industry Conference (APIC) 2018, as it makes a return to Kuala Lumpur after six years. This two-day conference, organized by the International Conference & Exhibition Professionals (iCEP), gathers leaders of the petrochemical fraternity to address issues and opportunities with a framework themed: 'Creating Value Through Collaboration'.
In the first day's proceedings, APIC 2018 speakers highlighted how collaboration adds value to the industry by collectively addressing current challenges including trade shrinkage due to policy and regulatory changes, overcapacities in certain chemical segments, deceleration of growth in key consuming countries, and intensifying competition from other regions.
A new segment was introduced for this edition of APIC, which brought together the leaders of the industry's top petrochemical consultants from IHS Markit, Nexant, Argus and Tecnon OrbiChem to debate over current issues and how the industry will be able to support the accelerated pace of Asia's evolving consumer needs.
With global demand shifting increasingly to Asia, particularly in construction, automotive, personal care and household sectors, co-operation across the industry will allow petrochemical players to innovate in order to drive, capture and create value.
To emphasise the significance of industry collaboration in the current economic landscape, Shamsairi M Ibrahim, the Chairman of the APIC 2018 Organising Committee, said: "Living in this VUCA (Volatile, Uncertain, Complex and Ambiguous) world, the need for industry players to foster collaboration among the industry ecosystem is becoming more crucial. Against this backdrop, the theme for APIC 2018 highlights the importance of forming meaningful partnerships to develop the industry."
The industry was also encouraged to uphold the need to operate sustainably to preserve the environment, while pursing greater growth.
More exciting programmes are in store for Day Two of APIC 2018 with the Ministerial Address by the Ministry of International Trade and Industry, the unveiling of innovative and customised petrochemical solutions and insights to attractive investment opportunities in Malaysia.
About the Asia Petrochemical Industry Conference (APIC)
Since 1979, leading Asian petrochemical corporations have staged discussions and critical analysis from across the petrochemical industry value chain. The honour to host the annual conference is shared among the APIC founding associations from Japan, Korea, Taiwan, India, Singapore, Thailand and Malaysia.
For more information about APIC2018, please visit http://apic2018.org.my
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