Editorial – August 2024
As we all know steel is a globalized business, especially after the formation of World Trade Organization (WTO). Itwas expected that the trade barriers between the different countries would be gradually reduced and the international trade becomes easier and smoother, filling the gaps in the supply chain. The objective of WTO was met to a large extent and the international trade increased manifold. India is the original signatory of WTO and had agreed to reduce the import barriers gradually. Also the overseas companies were given axix to the Indian markets for selling their products as well as investing. India opened up its economy in 1991 and one can see that its growth rate improved substantially post liberalisation. Not only the Indian goods reached all the corners of the world but many intrnational companies also entered Indian markets. Thus along with the opportunities too increased. All thi nesseciated an international quality and effecient supply chain management. Thus the industry as a whole benefitted by opening up.
The other major factor which facilitates the international trade and tried to bring closer the regional economies is international B2B trade shows. SteelFab, organized by the Sharjah Expo Centre, is the region’s largest and most well-established trade show for the steel fabrication industry. Known for attracting top industry professionals, the event showcases the latest in steel fabrication technology, equipment, and innovations. Steelworld has been associated with SteelFab for several years as Media Partner and was recognized as the ‘most popular magazine’ in the sector at SteelFab 2023.
As part of SteelFab 2025, Steelworld is organizing the MENA Steel Summit to complement the exhibition. This conference will discuss the present situation in the MENA region, covering upcoming projects, the demand-supply landscape, and future trends.
The SteelTech Pavilion, a key component of the MENA Steel Summit, will feature companies which supply technology and equipmentto the steel producing companies. Exhibitors will also include automation and consulting firms, alongside input suppliers from sectors like mining, mineral processing, refractories, ferro alloys and steelmaking. Attendees will have the opportunity to explore the latest advancements in steel production & processing and network with major industry players.
Hope such events will facilitate the trade between India and the MENA region and bring the regional industries closer.