Statement by Minister Seko on the Outcome of the Ministerial Meeting of the Global Forum on Steel Excess Capacity
September 21, 2018
On September 20th, in Paris, France, the 33 members of the Global Forum on Steel Excess Capacity representing more than 90% of world steel production gathered for the Forum’s 2nd Ministerial meeting. I welcome the agreement reached on a Ministerial report, including commitments for elimination of market distorting government support measures and next steps to be taken by Forum members.
The issue of excess production capacity in the steel sector is a global challenge that needs to be met through international collaboration. It is precisely because the system of world trade faces severe challenges today, such as the escalation of trade restrictive measures, that multilateral attempts to address the fundamental issue of excess production capacity must produce concrete results. In this regard, accelerating the discussions that are underway is an imperative.
Japan, as the Chair of the G20 from this coming December, will lead the discussions at the Global Forum in close collaboration with partners, to further develop the outcome of this Ministerial meeting.
Division in Charge
Metal Industries Division, Manufacturing Industries Bureau