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Opening ceremony of the 17th Arab Steel Summit under the patronage of H.E. Mr. Saad Sherida Al-Kaabi, the Minister of State for Energy Affairs
In a keynote speech opening the 17th Arab Steel Summit
His Excellency Minister Saad Sherida Al-Kaabi: The Arab steel industry must pay special attention to investing in advanced technologies and fostering a culture of innovation
His Excellency Mr. Saad Sherida Al-Kaabi, the Minister of State for Energy Affairs inaugurated the 17th Arab Steel Summit and the accompanying International Iron and Steel Exhibition by calling 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, His Excellency 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.
H.E. 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 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.”
His Excellency 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. His Excellency 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.
Minister 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 in
telligence.”
