Arab Steel Summit
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Arab Steel Summit

Egypt and the Arab countries are the most targeted to dispose of the global steel trade surplus

The Arab Steel Summit, which was held this year in the Jordanian capital, Amman, is of particular importance, as it coincides with the growing challenges facing this strategic industry in the Arab countries. Iron and steel by 25%, followed by many countries in the world taking retaliatory or preventive measures, such as the European Union, which imposed 25% duties on its steel imports, which amount to 121 million tons annually, in addition to Canada – whose imports are 6 million tons annually – which imposed customs duties In retaliation against US exports worth 12.8 billion US dollars, it also imposed duties against steel imports by 25%, and Turkey, which imposed protective duties amounting to 25%, and the European Union announced taking protective duties against imports of steel plates.

The same trend was taken by other countries that have steel industries, led by Malaysia, which imposed duties ranging between 10% and 13%, as well as Chile 38.9%, Vietnam between 9 and 15.4%, Thailand 21%, Indonesia 12% and South Africa 25%, in addition to India, which imposed duties between 6 to 10%.

Awwad Al-Khalidi, President of the Arab Iron and Steel Union, reviewed at the opening of the summit the growth achieved by the Arab steel industry over the past 40 years, as the production volume had doubled from 5 million tons to more than 60 million tons now, and there are hopes for further development, but that This industry faces challenges that hinder those hopes and threaten that industry. For his part, Kamal Joudi, Secretary-General of the Arab Iron and Steel Union, stressed that the steel industry in the Arab world is not far from dumping and discharging the production of countries that have a surplus and are looking for alternative markets to those that imposed protection fees of up to 25%, which makes the Arab markets the most targeted.


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