December 14, 2018
From December 12 to 13, 2018, the first official-level meeting of the Global Forum on Steel Excess Capacity (GFSEC) since Japan assumed the G20 Presidency was held in Tokyo. Mr. Naoshi Hirose, Director-General, Trade Policy, Minister’s Secretariat, Ministry of Economy, Trade and Industry (METI), chaired the meeting.
Delegates from 32 major steelmaking economies, including Japan (Chair), Brazil (Co-Chair), Russia (Co-Chair), China, the European Union, India, and the United States, as well as the OECD Secretariat.
2. Overview of the discussions
Review sessions were conducted in a question-and-answer format, based on presentations by the OECD and information shared by Forum members, on three main topics: (1) Developments in steelmaking capacity and demand, (2) Support measures by governments and other entities, and (3) Other issues (e.g. sharing of best practices on structural adjustment).
Regarding the future schedule, it was agreed that discussions would resume promptly in early 2019 with the next official-level meeting to be held in March 2019, keeping in mind the directive by leaders at the G20 Buenos Aires Summit to report on progress by June 2019.
Reference: Overview of the GFSEC
On the basis of discussions in international fora including the G7 Ise-Shima summit meeting in 2016, in which G7 leaders recognized for the first time the need to address excess capacity in the steel industry, the leaders agreed to establish the GFSEC at the G20 Hangzhou summit meeting.
In December 2016, the GFSEC was formally established with the participation of 33 countries and regions, consisting of G20 members and OECD members that are interested in the steel excess capacity issue. The first Ministerial meeting was held in Berlin in November 2017, and the second in Paris in September 2018, resulting in the reporting of progress towards the resolution of the issue of steel excess capacity.
Division in Charge
Metal Industries Division, Manufacturing Industries Bureau