The activities of the 16th Arab Steel Summit were launched yesterday in Cairo, entitled “Investment Opportunities in the Iron and Steel Industry in Arab Countries,” which is organized by the Arab Steel Union under the patronage of Engineer Ahmed Samir, Minister of Trade and Industry, and will last for two days.

The summit participants observed a minute of silence for the souls of the martyrs of Gaza, amid wide participation in the summit activities from more than 17 Arab countries.

During his opening speech, Awwad Al-Khalidi, Chairman of the Arab Steel Union, stressed the importance of holding this summit at this difficult time when the world is going through events and tensions in several regions, indicating that this summit is an essential platform for discussing the industry’s concerns and goals in light of the current challenges.

Dr. Kamel Djoudi, Secretary General of the Arab Iron and Steel Union, said that the Arab countries have come a long way in the steel industry, and preserving what this industry has achieved is a major challenge in light of the Arab and global changes.

He pointed out the importance of Arab iron and steel companies developing new strategies based on local markets, accessing new markets, and working to develop their production to enable them to withstand global competition.

Godi said that the Arab countries have a great opportunity to produce green steel due to the low price of its energy compared to prices in global markets.