KARACHI, PAKISTAN: Reliance Petrochem Industries has secured a $145 million export order for Europe, and dispatched the first ever shipment of Made in Pakistan petrochemicals including white oils and textile oils.
“First time in history ‘Made in Pakistan’ petrochemicals were launched in Barcelona Spain. We made this first export by bulk ship from Pakistan,” the company said.
Bulk production of petrochemicals is underway at Reliance Petrochem using imported and indigenous raw material.
It was Pakistan’s first export to Europe adding that their product was already being exported to UAE, Oman and other countries.
Pakistan was importing these chemicals (white oil and textile oil) spending $150 million a year and since the Reliance started production of these goods, its import was reduced to only $3.4 million.
“India is a big exporter of these chemicals to Europe and Indian lobby is quite strong there, and they resisted Pakistan’s exports. Indians created an issue regarding the specifications of the Pakistani product. However, the issue was resolved as company achieved American standardization,” company said
Chemical is the 4th largest sector in international trade and contributes 7% to the global GDP.