Minister Al Kaabi Calls For Bolstering Global Position Of Arab Iron And Steel Industry

(MENAFN- The Peninsula) Deepak John | The Peninsula

Doha: The 17th Arab Steel Summit and International Iron and Steel exhibition was inaugurated by Minister of State for energy Affairs H E Saad Sherida Al Kaabi, yesterday.

The event was hosted by Qatar Steel and delved into the latest trends and innovations shaping the steel industry in the Arab world.

Delivering the keynote speech, Minister Al Kaabi called for positioning the Arab iron and steel industry firmly on the global map and creating the appropriate regulatory and investment conditions to stimulate its growth and enhance its competitiveness.

Minister Al Kaabi pointed to various challenges facing the steel industry in the Arab world, including geopolitical crises that impact global economies and consequently the growth and development of the steel industry.

“This year witnessed a strong demand for steel across the region, driven by big infrastructure projects and a robust real estate market.

However, Arab countries produce around 40 million tons of iron and steel annually out of a global production of around two billion tons.

This highlights the challenge to enhance our position on the global map and to stimulate the growth of our industry and enhance its competitiveness on all levels,” he said.

Furthermore, Minister Al Kaabi called for aligning solutions with a balance between economic, social, and environmental goals, especially with regard to reducing the carbon footprint, which is the cornerstone of all sustainability strategies.

He also referred to the efforts of Qatar Steel, which since 1978, has maintained a low carbon footprint thanks to its use of MIDREX technology and production through electric arc furnaces, reducing carbon dioxide emissions to less than half the global average.

“The Arab steel industry must pay special attention to investing in advanced technologies and fostering a culture of innovation, because the future belongs to those who invest in research and development, and artificial intelligence,” he added.

Minister of State for Energy Affairs thanked the Arab Iron and Steel Union, its Chairman, Awwad Al Khaldi, and its Secretary-General, Dr. Kamel Djoudi, wishing the participants success in their summit and a pleasant stay in Qatar.

The event was organised by the Arab Iron and Steel Union (AISU) under the theme, 'The Future of the Iron and Steel Industry in the Arab World', brought together over 500 participants and 40 exhibitors from leading players and experts in the industry.

Also, addressing the summit, Chairman of the Arab Iron and Steel Union, Awwad Al Khaldi, expressed his hopes that the conference would serve as a valuable opportunity for collaboration and knowledge-sharing among participants, while also looking forward to a bright future for both the Arab and global steel industries.

Secretary-General of the Arab Iron and Steel Union, Dr. Kamel Djoudi, emphasised that the summit is a crucial platform for decision-makers and industry experts to exchange ideas in a time marked by significant multi-dimensional challenges affecting the iron and steel industry in the Arab world and globally.

He also stressed that the future of the iron and steel sector is closely tied to sustainability and innovation, with modern technologies and scientific research playing a pivotal role in advancing the industry.

Key discussions included economic challenges and opportunities facing the region's steel sector; adoption of new technologies to enhance efficiency and sustainability; potential for cross-border partnerships to foster growth and resilience.

The exhibition showcased the latest advancements in steel technology and innovation, providing attendees with valuable networking opportunities and the chance to explore new partnerships and investments.

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