JEDDAH: SABIC, together with its affiliates, has developed a robust downstream model which has become both a SABIC and Saudi Arabian success story, says a top official.

“SABIC has been the mainstay in converting associated production gas to valuable marketable products which have enabled the development of local downstream industries,” said its Vice-Chairman and CEO Mohamed Al-Mady.

He was addressing a meeting of the US-Saudi Business Council in Seattle.

He called for more productive engagement between US companies and the Saudi private sector to further strengthen business relations in hopes of helping accelerate their respective global growth agendas.

“I cannot overemphasize the importance of our continuing relationship and the bond which has developed over these many years,” said Al-Mady, who is the co-chairman of the council.

“In this context, and in my role within the US-Saudi Business Council, I see myself as a goodwill ambassador to American business enterprise,” the CEO said.

According to a press release from BusinessWire, he also called for Saudi and US business leaders to begin to more aggressively promote the many bilateral opportunities which exist within the two countries.

“Greater US representation within the Kingdom is very welcomed — as it always has been. It is incumbent on all of us to engage in an ongoing campaign to strengthen the business ties that have made our relationship so important,” he was quoted as saying in the press release.

Speaking about Saudi Arabia’s strategic plan to support and develop local industry through the National Industrial Cluster Development Program, Al-Mady said business leaders in both countries could play important roles in this plan.

This program is crucial to Saudi Arabia’s future as it focuses on the importance of developing small and medium enterprises to help grow a strong entrepreneurial base and diversify its economy, he said.