ASTANA – The Organisation for Economic Cooperation and Development (OECD) Steel Committee approved March 16 Kazakhstan’s committee membership, allowing the country to interact with other major industry participants.
“After the presentation of Kazakhstan’s steel industry policy preliminary review Sep. 28-29, 2017, the Steel Committee Secretariat decided to recommend the OECD Council invite Kazakhstan as an associate member,” said Kazakh Ministry for Investment and Development press release.
The application took five years with significant efforts by the Industrial Development and Industrial Safety Committee of the ministry and the Kazakhstan Industry Development Institute. Throughout the application process, analytical works on the steel industry in Kazakhstan were developed as well as the medium-term and long-term goals on the market.
Membership on the committee will allow Kazakhstan to stay informed of the latest developments and react to market changes on time, addressing issues related to the steel industry on equal terms with other members – major steel producers. It will also provide unlimited access to research and analytical materials produced by the OECD.
Committee admittance was planned as part of a broader OECD Country Programme developed within the memorandum of understanding between the Kazakh government and the OECD.
The OECD Steel Committee provides a platform for governments to handle challenges facing the steel industry and work towards political solutions to ensure transparency on steel markets.
By promoting fair competition between steel producers, the OECD aspires to a more sustainable steel industry so that steel continues contributing to economic well-being globally.
The OECD, established in 1961, includes 35 countries, accounting for 45 percent of steel production worldwide and 75 percent of steel exports.