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EQUATE Petrochemical Company, Kuwait's very first global joint-venture in this market, sponsored the 3rd Research & Innovation (R&I) Summit 2016 organized by the Gulf Petrochemicals & Chemicals Association (GPCA) to promote quality in Research & Development (R&D).

EQUATE President & CEO Mohammad Husain stated, "Innovation has become an important component for sustainability, not simply an expression or set of standards. With global spending on petrochemical and chemical R&D reaching nearly USD 530 million in 2014, progressive open innovation in this field is a strategic objective for our industry.".

Husain included, "Certainly, any efficient initiative, needs to be driven by the human capital, at EQUATE and beyond, as they possess untapped abilities in open innovation. For that, EQUATE is always going to support open development by its employees, as well as other people and companies, offered that such efforts relate to our field of company.".

Husain noted, "The GPCA R&I Summit is truly an opportunity for our stakeholders to motivate open development through using 'Partners in Success' by the association, its members, scholastic bodies, other organizations and individuals from numerous countries. Dealing with development's challenges, basic for development, along with emphasizing the function of end-to-end collaboration in between scholastic bodies, organizations and business are emphasized by the top to help with cultivating and nurturing innovation-oriented cultures.".

In addition to Husain, EQUATE was represented at the summit by R&D Leader Arif Al-Qattan and Innovation Program Leader Abdulrahman Al-Munyaes.

As part of its participation in the summit, EQUATE sponsored a professor and students from the College of Engineering & Petroleum at Kuwait University to attend the event and interact with other delegates. The college is represented by faculty member from the Department of Chemical engineering Dr. Abdulwahab Al-Musallam, in addition to the students, Bader Al-Nashmy, Yousef Al-Shamlan and Mohammad Al-Ajmi. CORRESPOND's sponsorship of the professor and the students for this event and other previous GPCA activities is part of the Memorandum of Understanding (MoU) signed with the college during 2008 for total partnership and cooperation in industrial and scholastic fields.

The 3rd GPCA R&I Summit 2016, was kept in Dubai, UAE. Under the theme "Managing R&D during Difficult Times: Creating Global Competitiveness," the occasion gathered top executives from petrochemical and chemical business, along with government bodies and other entities to talk about different subjects regarding R&D and development.

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