11/04/2016 - With a serious export glut weighing on the global steel sector, ministers, senior officials and private sector representatives from around 30 countries including China, Japan, Germany, India, the UK and the US will meet with EU, WTO, OECD and World Steel Association representatives on Monday 18 April in Brussels to seek solutions to the overcapacity crisis.
Hosted by the Belgian government and the OECD, the full-day meeting will discuss how governments can facilitate market-driven industry restructuring and aims to agree on steps to reduce competition-distorting policies. Overcapacity in steel was above 700 million metric tons at the end of 2015, and new plants are set to add another 47 mmt by 2018, according to OECD analysis. Meanwhile steel consumption is expected to have declined last year.
The meeting is not open to the media but journalists are invited to a closing news briefing at 17:30 at the Palais D’Egmont led by OECD Deputy Secretary-General Mari Kiviniemi.Participants at the talks will include EU Trade Commissioner Cecilia Malmström, US Deputy Trade Representative Robert Holleyman, UK Business Secretary Sajid Javid, French Economy Minister Emmanuel Macron, Mexican Economy Minister Ildefonso Guajardo, and Belgian Economy and Foreign Ministers Kris Peeters and Didier Reynders.
Further information – including the agenda and three short OECD papers summarising recent developments in the steel market, on overcapacity and on trade policy - is available on the meeting website. Steel data by country: www.oecd.org/industry/ind/steelcapacity.htm.
Journalists who wish to attend the news briefing are invited to register with Catherine Bremer in the OECD Media Division (email@example.com, +33 1 45 24 97 00).