Abstract of Report on the Iron and Steel Industry in the Arab World
Heavy industries, especially the iron and steel industry, continue to receive the attention and care of the countries, which are considered to be industries that employ a large number of workers.
This industry employs more than 6 million direct workers and about 42 million indirect workers worldwide and employs about 300,000 workers directly and more than 2 million workers indirectly in the Arab countries.
US is one of the founders of the World Trade Organization (WTO), retreated from its principles of free trade. In 2018, it imposed import tariffs on steel and aluminum imports under the slogan of maintaining American labor and declared that “If you do not have steel, you do not have a country” Many countries have followed the same path to achieve the same goal.
Some Arab countries continue to support the iron and steel industry and bear the debt settlement of some of the public sector iron and steel companies that are experiencing financial difficulties.
It also pays workers’ wages, and finances the rehabilitation of iron factories such as ( Sider El Hadjar in Algeria and the Egyptian Iron and Steel Company).
The iron and steel sector will remain of particular importance as it is a key sector for the rest of the industries.