Germany is inviting ministers and senior officials from leading steel producing countries to a meeting in Berlin on Nov. 30 to discuss overcapacity in the sector, the economy ministry said on Friday.

“We want to discuss together how we can prevent overcapacity on the global market and guarantee fair competition,” Matthias Machnig, state secretary in the Economy Ministry, told business magazine WirtschaftsWoche.

Officials from countries belonging to the Organisation for Economic Cooperation and Development (OECD) are expected to join the meeting, the magazine reported. Members of the OECD steel committee would take part, it said.

“Our goal is to avoid new punitive tariffs for our businesses,” Machnig said.

 

Source:reuters.com

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