The Chairman of the Board of Directors of the Arab Iron and Steel Union, Awwad Al-Khalidi, called on Arab governments to provide more support “to protect this strategic industry.”
In a speech during the 14th Arab Steel Summit hosted by Tunisia, Al-Khalidi stressed the need to strengthen Arab cooperation in the field of iron and steel industry “in the face of foreign products”.
Al-Khalidi, a Kuwaiti economist who chairs the board of directors of the United Steel Industry Company (Kuwait Steel), warned that the instability of global economic conditions and the increase in the supply of iron and steel products require more support from Arab governments and the issuance of the necessary legislation to protect this strategic industry.
He stressed that Arab iron and steel companies and factories should strive to develop production processes and focus on reducing production costs and expenses and enhancing cooperation between Arab companies and factories, “as the new rules that govern the global economy no longer allow for unilateral action, but rather require unification of efforts and the establishment of strong economic blocs that It gives more impetus to development and competition.”
In this regard, Al-Khalidi referred to the positive measures, legislation and procedures taken by the Gulf Cooperation Council and some Arab countries, stressing that economic and industrial cooperation between Arab countries, especially in the field of iron and steel industry, has become a necessity and not a luxury at the present time.
On his behalf and on behalf of the Arab Iron and Steel Union, Al-Khalidi expressed his thanks and great gratitude to Tunisia’s president, government and people for the warm reception and hospitality. The companies participating in the Arab Steel Summit for their permanent support for the Federation’s activities.
The participants in the 14th Arab Steel Summit, who are representatives of all iron and steel factories in the Arab world, discussed over two days, measures to protect and support Arab markets from foreign iron and steel exports, and to support and develop the iron and steel industry sector, especially as it absorbs large labor and stimulates Arab national output.