The Dow Chemical Company has become the first outside business to
receive a trading license from the Government of Saudi Arabia, which will allow
the company to have 100 percent ownership in the country’s trading sector.
With the trading license, Dow can deliver its products to
Saudi Arabia in the field of sustainable development, energy-efficiency, oil
and gas, alternative energy and water. The trading license comes as part of
Saudi Arabia’s commitment to diversify its economy and address challenges
created by lower global energy prices.
“Dow is truly honored to be the first company to receive a
trading license and advance our legacy of strategic partnerships and
investments in the Kingdom,” Andrew Liveris, Dow’s chairman and CEO, said. “Dow has been a strategic partner in Saudi Arabia for
nearly 40 years, and we look forward to playing a key role in helping advance
the Saudi’s Vision 2030 plan designed to create a vibrant society and a
thriving diversified economy.”
Saudi Arabia Deputy Crown Prince Mohammad Al-Saud presented the trading license to Liveris in
Washington, D.C., at the Royal Embassy of Saudi Arabia. Included in the meeting
were Majid Al Qasabi, minister of commerce and investment, and Khalid Al-Falih, minister of energy and mineral resources of Saudi Arabia and chairman of Saudi Aramco.
