Türkiye joins action framework against steel overcapacity — Anadolu Agency

In Milwaukee, United States, Türkiye and other participants in the Global Forum on Steel Excess Capacity adopted a Comprehensive Framework for Joint Action to address global excess capacity in steel production. Turkish Trade Minister Ömer Bolat said this, reports Anadolu Agency.

Forum participants’ decisions

According to Bolat, forum participants also approved a ministerial statement. The decisions were made during a meeting held on the sidelines of the G20 trade ministers’ meeting.

The G20 trade ministers’ meeting is taking place from September 30 to October 1 under the U.S. presidency. It is chaired by U.S. Trade Representative Jamieson Greer.

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Forum participants considered ways to prevent excess production capacity from increasingly harming international steel trade. They also discussed coordinating the investment, production and foreign trade policies of participating countries and agreed to continue working on the issue.

Topics of the G20 talks

Bolat represents Türkiye at the two-day meeting, which is taking place amid geopolitical tensions, growing uncertainty and the risk of economic fragmentation for global trade.

The minister said that Türkiye is presenting its approaches and proposals on preventing food from being used as an instrument of political and economic pressure, addressing structural excess capacity, the most-favoured-nation principle, and eliminating forced labour in global supply chains.