The Spanish Steel Industry Association UNESCO said it supports cooperation with the UK government in combating global steel oversupply and unfair competition following a meeting in Madrid with Chris Bryant, the UK Secretary of State for Business and Trade.
During the discussions, representatives of UNESCO examined the potential impact of recent changes in the UK's steel safeguards on steel trade flows between the UK and the European Union.
The Association stressed that maintaining an open and balanced steel trade between the UK and the EU meets the mutual interests of both sides in the current difficult international market environment.
The Association supports a balanced agreement between the EU and the UK
UNESCO expressed support for a constructive agreement aimed at preserving traditional trade flows between the closely linked European and British steel markets.
The association also stated that it is ready to support an agreement based on historical trade exchanges, while strengthening cooperation between the European and British steel sectors in the fight against global overcapacity and unfair trade practices.
According to UNESCO, the European Union should prioritize market access for historical trading partners who share European economic, environmental and social standards. She also welcomed the ongoing dialogue between the UK, Spain and the EU and said she expected the discussions to contribute to creating a more stable and predictable framework for cooperation between strategic partners.
Industry warns against uncoordinated trade measures
Carola Hermoso, CEO of UNESCO, said that the European and British steel industries face common challenges in an increasingly complex world. Global market conditions. She added that trade measures should be developed in a coordinated manner to avoid disproportionate consequences and maintain a balanced bilateral relationship.
The UNEC also stressed the importance of strengthening cooperation in an environment where the global steel market continues to face structural imbalances and trade practices that could distort international competition.
Author: Stilorbis
Steelorbis.com
