Lieutenant General Kamel El-Wazir, Deputy Prime Minister for Industrial Development and Minister of Industry and Transport, participated alongside Bandar Al-Khorayef, Saudi Minister of Industry and Mineral Resources, in the ministerial session titled “Empowering the Localization of the Iron Value Chain to Support Economic Growth and Income Diversification”, held within the framework of the 3rd Saudi International Iron and Steel Conference in Riyadh.
The Minister affirmed that Egyptian–Saudi cooperation in the steel sector represents a model of successful Arab industrial integration, through which both countries can achieve regional self-sufficiency in steel products, reduce production costs, and enhance the global competitiveness of Arab products. He emphasized that this cooperation is a strategic choice to strengthen regional industrial security and build an integrated Arab economy capable of facing global challenges.
El-Wazir described the Gaza peace agreement as a new dawn for the Middle East, opening the door to reconstruction that will require massive quantities of steel, noting that Egypt is ready to contribute to these efforts with its steel products through joint Arab cooperation.
He stressed that the iron and steel industry is a cornerstone of the Egyptian economy, forming the backbone of national industrial and urban development. Egypt’s government has adopted a comprehensive national vision to advance the sector by deepening local manufacturing, localizing supply industries, and adopting green and sustainable production technologies.
The Minister highlighted Egypt’s efforts to localize billet production to reduce import bills, launch a national scrap collection initiative, and utilize local iron ore reserves in El-Wahat and Wadi Allaqi. He also noted ongoing reviews of gas and electricity prices to ensure competitiveness both domestically and globally.
Regarding smart protection policies, El-Wazir explained that Egypt has imposed temporary safeguard duties on imported billets and flat products to protect local industry from dumping, while simultaneously implementing structural measures to lower costs and localize intermediate industries.
He further presented the features of Egypt’s national strategy to develop the iron and steel sector, which aims to enhance the entire value chain, encourage the production of high-value steel products, and advance the transition toward a green economy.
The Minister concluded by emphasizing that Egyptian–Saudi integration offers a strategic opportunity to build a strong regional industrial alliance, leveraging the Kingdom’s advantages in energy and raw materials and Egypt’s skilled workforce and strategic location — paving the way for joint investments and the development of a robust Arab iron and steel industry.