Under the patronage of the Minister of Industry and Commerce, H.E. Mr. Zayed R. Alzayani, the 15^th Arab Steel Summit and the International Iron and Steel Exhibition, hosted by the Kingdom of Bahrain, launched this morning in conjunction with the 50^th anniversary of the Arab Iron and Steel Union establishment, in the presence of Dr. Kamal Judy, Secretary General of the Arab Iron and Steel Union .  

In a speech delivered on this occasion, H.E. the Minister welcomed the attendees and commended the role of the Arab Iron and Steel Union in developing the Arab iron and steel industry to achieve industrial prosperity, implementing visions and aspirations of HM King Hamad bin Isa Al Khalifa, to achieve comprehensive economic development, and integrated with government efforts under the guidance of HRH Prince Salman bin Hamad Al Khalifa, Crown Prince and Prime Minister, to achieve economic recovery, hoping that this summit will activate and support integration and exchange of experiences in this continuously developing prominent industrial sector.

H.E. added that the Kingdom of Bahrain achieved continuous success and growth over the past years in the industrial sector, as a result of policies adopted by the government since the sixties, aimed at not relying solely on oil and natural gas products, making the industrial sector an influential sector in the development of Bahrain's economy and seeking to attract foreign investments by encouraging industrial projects and creating the necessary infrastructure for their establishment, which led to the diversity of existing industrial sectors in the Kingdom.

The Minister also noted that in the field of iron and steel industries in Bahrain, there are approximately 20 factories for the production of iron, steel and other structural and industrial iron products with an investment value of more than 2 billion US dollars, providing over 3,000 jobs, including Bahrain Steel Company and Sulb and many companies witnessing growth due to the large local, regional and global demand for such products.

This pivotal sector presents opportunities to establish many other industries and we seek to preserve it and enhance its sustainability. Thus, the Industrial Sector Strategy (2022-2026) was launched as part of the economic recovery plan, which includes 5 main axes: strengthening national industries, investing in infrastructure, improving investors' experience, guiding Bahrainis professionally, updating legislation and laws, and aims to raise the GDP of the industrial sector, increase nationally originated exports, and provide promising job opportunities for citizens. This supports the transformation towards the 4^th Industrial Revolution, applying the concept of a circular carbon economy and environmental and social governance, encouraging investment in technological infrastructure and digitizing manufacturing, and increasing the efficiency of supply chains through the integration of Gulf industries to reach an enhanced sustainable industry. 

The Kingdom of Bahrain is hosting the 15^th summit on the 50^th anniversary of the Arab Iron and Steel Union establishment, the first union of Arab countries under the Council of Arab Economic Unity. This year's summit will discuss a range of important topics, including the pandemic's impact on the economies of Arab and foreign countries, its impact on the steel industry and the repercussions of the Russian-Ukrainian war, the impact of global economic variables, the impact of oil and gas prices on the economies of the steel industry, competitive location, growth strategies, opportunities and challenges of producing products with high added value in the Arab countries, new technologies and their role in diversifying Arab steel production, renewable energy, carbon-free technologies, circular economy and its role in the sustainable development of the steel industry, modern maintenance systems, environmental, health and safety management in the steel industry, raw materials and production requirements and the extent of their impact on the future of the Arab iron and steel industry.

The summit includes a number of organizations, agencies and government bodies associated with trade and industry, steel and rolling production companies, suppliers of steel production technology / basic ores for the iron and steel industry / technological equipment / metal construction companies and companies that worked in the field of iron and steel trade, companies using iron and steel products, investors, businessmen, consultants, engineering and construction companies, logistics and shipping companies, scrap recycling companies, mining companies, engineering and construction companies, in addition to universities and research centers.