The EuropeanCommission has unveiled plans to help manufacturers in the EU to sell steelinto growth markets overseas, such as the four major growing BRIC economies ofBrazil, Russia, India and China.
Earlier thisweek, European Commissioner Antonio Tajani met with steel industryrepresentatives as part of the High-level Roundtable on the future of theEuropean Steel Industry.
Whileproduction and consumption of steel has changed in recent years across the EU,manufacturing is still strong, and the Commission notes that steel holds”a strategic place in the economy” of the continent as a whole.
Turnoveralso remains strong throughout the EU, at €170 billion each year – equivalentto just under £140 billion at current exchange rates.
Around360,000 people are employed in the industry, highlighting the importance ofbeing able to sell steel either within the EU, or to nations overseas.
At about1.25% of the EU’s total manufacturing employment market, the continent issecond only to China in terms of total steel output – and the Commission isworking to ensure that this is a position that is retained or improved upon inthe years to come.