Concerning the work of the Global Forum on Steel Excess Capacity (GFSEC)

October 29, 2019
Yoshihisa Kitano
Chairman
    The Japan Iron and Steel Federation

 

We highly appreciate the leadership and commitment of the Government of Japan in the work of the Global Forum on Steel Excess Capacity (GFSEC). We are grateful to the Government of Japan for its chairmanship in the past year, particularly for its effort to develop a consensus on an extension of its mandate beyond 2019.

While it is regrettable that discussions in the Ministerial meeting on October 26, 2019, did not attract a full consensus, we are reassured that a large majority of members have highly appreciated its role and outcome of the GFSEC and have agreed to continue work on the issue of steel excess capacity in line with the current and future development of the global steel industry.

We believe that the issue of steel excess capacity should continue to be discussed amid heightened uncertainties in the global steel market due to slowdown of the world economy.

We are willing to continue to cooperate with related countries and regions to support the continuation of sound development of the global steel industry in the future.

 

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