The annual Ministerial Conference of the Global Forum on Steel Excess Capacity (GFSEC) was held today. It was set up as part of the G20 with the aim of sharing national data on steel industry production capacity and coordinating policies to support the sector in order to avoid trade tensions on the international steel market. The annual forum chairmanship is ensured by the G20 Presidency on duty, which, as Deputy Minister Scalfarotto pointed out, will be held by Italy in 2021.
"Today at the Global Forum on Steel Excess Capacity, I reaffirmed our commitment, alongside that of the EU, to continue the multilateral reduction of steel production excess capacity at global level. Italy, Europe's second largest manufacturing power, will hold the Presidency in 2021. We will work to ensure the recovery of a sector significantly hit by the current pandemic, through coordination and concertation" - the Deputy Minister stated.