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2010 Towards More Focus On Regionalization |
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16/03/2010 12:30:18 By: Mohamed Laid Lachgar AISU's Secretary General At the beginning of 2010, the Arab Iron & Steel Union (AISU) completes 40 years since its establishment as the first regional organization on the level of steel industry in the Arab world. Hence, 2010 is a year that holds special significance to Arab steel industry, as it is the year that gives new hope in recovery, which even if not certain, yet there׳s some green shoots indicating that the powerful threat which overshadowed this industry during the past year is now, hopefully, something of the past. The profit losses and production cuts witnessed by steel industry all through 2009 may not happen again in 2010. The lesson that the steel industry learned during these hard times lies in developing its methods of dealing with the issues such as production planning and cost reduction, as well as in how to direct future investments. However, the sure thing which unites steel industry with AISU׳s view in this very year lies in the fact that AISU lived the cares and ambitions of this industry during the past four decades since its establishment, trying to assume the same defying stance of the industry, in good years of boom or during recession cycles extending usually in time for periods that go beyond that cycle in which the industry lived through since the second half of 2008 and till the end of 2009. This cycle started to change course, or so it seems, since the beginning of the year. AISU in its 40th year, and since it represents steel industry that holds a primary position in leading economic and industrial growth within several Arab countries, is now much more proud of the achievements of this industry during the past years, as well as satisfied with AISU׳s role as a leading organization of steel on the Arab level representing around 90% of the overall Arab steel output. Yet, although aware of the importance of the achievements of Arab steel industry and the role Arab companies played in various fields, AISU sees that it is committed to work harder than ever in order to keep this industry in a challenging position against the hard times it went through or maybe to face a coming crisis that hasn׳t reared its ugly head yet. There׳s a special thing about types of challenges facing the steel industry. On the one hand, there׳s a self-test induced by the will for continuous progress. On the other hand, there is a challenge dictated by the speed of change that the steel industry is living through, either on the level of markets that have become more open, or in the technology that is now more diversified, the thing which increases the importance of making the right choice in identifying the future winners and losers. The Arab steel industry has responded in a positive manner to these challenges, «accepting the challenge» which enabled it to grow faster, reaching a level that attracted the interest of the whole world to it. The Arab world is now one of the fastest growing regions in terms of steel industry, and one of the most investment-attracting as well, resulting in producing approximately 25 million tons of steel products during 2009 according to preliminary estimates, versus nearly 2 million tons in early 1970s, which is the time when AISU was established and with it an upward escalating movement of growth in steel industry was found through establishing new projects in most Arab countries. Nevertheless, and despite the rapidly-growing production, Arab markets still depend on imports to meet a large part of its needs, a thing that turned this market into a competition ground for many international corporations. That׳s true especially in times when many markets are alienating the threatening imports, demanding protectionist procedures to be put in place. In fact, this applied more economic pressure on the Arab steel industry and changed, to some extent, the general notion about its profitability. AISU in its 40th year depends in its future outlook to Arab steel industry on the idea that its real power lies in the ability of Arab markets to absorb the production, and the extent of development and sustainability these markets are able to show. Furthermore, AISU sees that the ability to take up and grow fast must move in parallel and within the perspective of diversified needs as defined by economic analysis, and depends on the extent of competition that the industry attains with similar or alternative products. Prior to that, there must be full regional integration on the production and marketing levels, as the crisis entails a new language, which is that of regional integration within a framework of coordination amongst producers. Although it might be important not to ignore the integration and merger opportunities with global markets, focus must be primarily put on available opportunities and capabilities in local markets, not only on the short-term, but also on the long-term and within a precise outlook of supply/demand future. Arab Iron & Steel Union, realizing, and proud of, the achievements on the level of Arab steel industry in the past decades, especially during the last one, is looking more confidently to what the future holds of potential that shall draw a new picture of this industry. This new image could be entitled: Larger companies, with larger production capacities and capabilities to meet the market needs and face challenges thrown at it in times of crisis. |
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