OECD meets next week to discuss steel subsidies

OECD meets next week to discuss steel subsidies

An Organisation for Economic Corporation and Development (OECD) meeting will be held on February 24-25, 2003 in order to discuss details and possible solutions to eliminate the state subsidies, harming the steel trading worldwide. Important steps were taken during the last meeting held on December 18-19, 2002, by thirty seven steel producing countries agreeing upon the urgent need to prepare an agreement to reduce or eliminate all kinds of government subsidies causing injury to the trading of this commodity. During the meeting set for February 24 in which representatives from steel producers and unions will be present, the progress on efforts to reduce the global over capacity problem will be examined.