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Sharing ideas the key to steel industry’s future

20 April 2016

Knowledge sharing between nations is critical if the steel industry in Australia and around the world is to seize opportunities for growth and expansion in the future, according to Assistant Minister for Science Karen Andrews.

Mrs Andrews attended the OECD Steel Symposium and Steel Committee meeting in Brussels this week to share insights with stakeholders from across the globe into how the Australian Government was responding to the challenges faced by the steel industry.

The symposium also provided the Government with an opportunity to learn lessons from leading steel manufacturing nations from around the world.

The Brussels meetings covered the pressing issues affecting the industry, particularly the global oversupply of steel and the potential challenges this worldwide glut is creating.

“Increasingly the focus needs to be on introducing innovation,” Mrs Andrews told the symposium.

“With a global oversupply of steel, it will be those companies and countries which can improve their productivity, use the most cutting-edge technology and expand into new markets that will succeed.”

Mrs Andrews also used the event to describe some of the Government’s policy reforms designed to strengthen the competitiveness of Australia’s steel industry.

"Our anti-dumping reforms have been designed to ensure that our businesses are not disadvantaged by the unfair actions of foreign companies."

She said a key aspect of Australia’s reforms was introducing anti-circumvention regulations to address situations where dumped goods are slightly modified in order to avoid payment of duties.

“A competitive domestic steel industry is important to Australia’s economy, and Australia remains a strong supporter of efforts to achieve more open, well-functioning, transparent and competitive markets,” she said.

Media contact: Mrs Andrews’ Office: 02 6277 4360 Department media: media@industry.gov.au