JISF Welcomes Outcomes of the Ministerial Meeting of the Global Forum on Steel Excess Capacity

September 21, 2018
Koji Kakigi
Chairman
    The Japan Iron and Steel Federation

 

The Japan Iron and Steel Federation (JISF) welcomes the outcomes of the Ministerial Meeting of the Global Forum on Steel Excess Capacity (GFSEC) held on September 20, 2018 in Paris. The GFSEC member countries have agreed on a consensus report focusing on the identification of market distorting subsidies and government support measures that contribute to global excess capacity, and on the continuation of review process for the removal of these measures through maintaining the work of the GFSEC. JISF appreciates the Japanese government for its initiatives and for its efforts to achieve meaningful outcomes.

 

The Japanese steel industry believes that full implementation of the measures adopted in the report is vital to resolving the issue of global excess capacity in the steel sector. Going forward, we strongly hope that the Japanese government, the Chair of the G20 from this coming December, will take initiatives for continuing review and assessment of steelmaking capacity, as well as market distorting subsidies and government support measures.

 

JISF has fully engaged in solving the issue of global steel excess capacity and is willing to continue to work with the Japanese government.