Arab Union for Iron and Steel called for concerted efforts to reduce the negative effects of the global recession on the production of steel by Arab steel companies, particularly the smaller ones that face the risk of closure.
The call came during a the Union board meeting in Cairo, headed by Mr Ahmed Ezz where discussion focused on ways to cope with the global economic crisis and reduce its negative effects on the steel industry, including support to Arab steel industry.
The meeting included participation by iron and steel company officials, Arab experts and specialists, and monetary and credit policy officials.
Discussion in the meeting also tackled the issue of establishing a mechanism for the standardization of prices in the Arab region to achieve common interests of producers, traders and consumers.
Established in 1971 the union aims at developing and modernizing iron and steel industry in the region.