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اقتصاد
Arab Steel Bloc Urged
The 19th Arab Steel Summit, held in Cairo, called for the creation of a unified Arab steel market to address global overcapacity and rising tariffs and trade barriers by harmonizing customs tariffs, standards and rules of origin, and removing obstacles to intra-Arab trade. The head of the Arab Iron and Steel Union put the global surplus at around 600 million tonnes, with projections that it will rise to 745 million tonnes by 2028. The Arab world produces 44 million tonnes and imports 18 million, while intra-Arab trade accounts for no more than 13%. Participants stressed the importance of industrial integration and the shift to green steel, as well as stronger cooperation between governments and the private sector to address geopolitical and competitive pressures.
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