Today, the Arab Iron and Steel Union annual conference, “The 15th Arab Steel Summit,” was concluded in Manama, the Kingdom of Bahrain, under the patronage of H.E the Minister of Industry and Commerce, Mr Zayed Bin Rashid Al-Zayani, in which a remarkable number of Arab steel companies, regional and international organizations, technology equipment suppliers, consultants, analysts, and prominent investors participated.
In addition to the presence of some ambassadors, representatives of ambassadors of Arab countries and representatives of ministries.
The Arab Iron and Steel Union’s Chairman, Mr Awwad Al Khaldi, pointed out in his speech the Russian-Ukrainian war repercussions and the energy prices rise, in addition to the interest rate increase in the United States, which led to the economic instability that has affected all industries without exception.
In his speech, the Chairman of the Arab Iron and Steel Union, Mr Awwad Al Khaldi, stressed the importance of cooperation in protecting national products and expanding the production of value-added steel products, a large part of which is still imported from abroad. He also stressed the importance of the cooperation of Arab steel companies to draw a new investment map for the steel industry to cover what the markets need in terms of raw materials and to guide investors in this field.
He urged the iron and steel companies and plants to strive to develop production processes and focus on reducing production costs, capital expenditures, and cooperation among them, as the new rules governing the global economy no longer allow for unilateral action but instead require unification of efforts and the substantial economic blocs’ establishment that gives more push to development and competition.
The Secretary-General of the Arab Iron and Steel Union, Dr Kamel Djoudi, indicated in his speech that the Arab Steel Summit is one of the largest conferences that brings together all Arab iron and steel companies from the ocean to the Gulf with the presence of an elite group of experts.
He stressed the need to address the various crises that directly affect the steel markets and how to reduce the emissions of this industry that are harmful to the environment, which has begun to pose a threat to our present and the future of coming generations, and to strive for green steel production by 2030, a goal that we must start implementing from now with the participation of all steel companies and regional and international organizations.
He concluded his speech by inviting the participants to the 16th Arab Steel Summit in Dubai, the United Arab Emirates, under the slogan Green Steel is a need, not a luxury, in October 2023, if God will.