George Matta, Head of Marketing Sector at Ezz Steel and Chairman of the Economic Committee of the Arab Iron and Steel Union, expected that demand for steel products in the Middle East region will increase during 2024, supported by infrastructure projects implemented by Egypt, Saudi Arabia, the United Arab Emirates, and Algeria.

In his speech at the 17th Arab Steel Summit organized by the Arab Iron and Steel Union in the Qatari capital, Doha, he indicated that the economy of the Middle East and North Africa region is expected to recover despite geopolitical tensions, high inflation rates, and tensions in the Red Sea, adding: “The economies of the Gulf Cooperation Council countries are expected to grow by 2.8% in 2024, driven by increased oil production and efforts to diversify the economy.”

Today, Engineer Saad Al Kaabi, Qatari Minister of State for Energy Affairs, inaugurated the 17th Arab Steel Summit, organized by the Arab Steel Union in the Qatari capital, Doha, with the participation of a large crowd of major manufacturers and iron and steel companies, including Ezz Steel Group. The summit’s activities discuss international and regional geopolitical variables and their impact on the Arab steel industry, in addition to inflation rates in energy prices, mineral ores and logistics, and their impact on the future of the industry.

This year’s Arab Steel Summit is held in conjunction with the economic, geopolitical and climatic variables witnessed by the world and the Arab region, and their significant impact on the iron and steel industry, both regionally and globally, as the iron and steel industry is one of the strategic and major industries in light of the efforts to increase the contribution of the mining, iron and steel sector to the gross domestic product.

In conjunction with the conference, the Arab Iron and Steel Union is organizing the “International Iron and Steel Exhibition 2024”, which will provide a suitable space for all actors in the iron and steel sector, in addition to showcasing modern technologies and technical solutions that contribute to developing and diversifying the productivity of this industry.