EU and China to cooperate on curbing steel capacity

Wednesday, 24 October 2007 18:05:05 (GMT+3)   |  
       

The European Commission's director general for enterprise and industry, Heinz Zourek, has paid a visit to Beijing during which he had a meeting with officials from China's National Development and Reform Commission (NDRC). Following the meeting, Zourek, remarking that China was trying to curb its steel production and exports, stated that the EU would help the country both to curb its steel production and to develop its technology.

Zourek further stated that a delegation from China would be attending an EU seminar in Poland this year on the issue of restructuring outdated steel technologies.

Regarding European steelmakers' complaints about low-priced Chinese steel exports to the EU, Zourek said he had received assurances from the NDRC officials that they would keep exports limited. In the first nine months of 2007, Chinese steel exports to the EU reached 8.9 million mt, up 137 percent year on year.

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