DOHA: Minister of State for Energy Affairs HE Saad bin Sherida Al Kaabi has inaugurated the 17th Arab Steel Summit and the accompanying International Iron and Steel Exhibition. He 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.
In his keynote speech at the summit, 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.
The Minister said: "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 tonnes. 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."
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. Healso 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.
Al Kaabi added: "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."
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, emphasized 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.
Organised by the Arab Iron and Steel Union, the17th Arab Steel Summit and International Iron and Steel Exhibition are held in Doha from October 14 to 15.
