The UAE is amongst the highest consumers of iron and steel products (1,309 kg per person), well above the global average of 240 kg per person, said a report ahead of a major industry event in Dubai, UAE.
The Metal Middle East 2015, a leading trade fair for metallurgical technology, thermo process technology, foundry machinery and metal working tools, is set for its debut launch in January.
The report compiled by the World Steel Association stated that the per capita consumption of finished steel was 323 kg in Saudi Arabia, 385 kg in Kuwait, 1,288 kg in Qatar and 1,309 kg in the UAE.
Satish Khanna, the general manager, Al Fajer Information and Services, the co-organisers of the event, said: "Iron and steel producing countries, especially the European ones, represent a promising new market for Dubai exports."
"Many countries showed high potential for imports of iron and steel and Dubai is always looking for new markets to export iron and steel," he added.
Jeen Joshua, the group project manager of Metal Middle East 2015, said the UAE is regarded as the most important hub for trade between Europe and Asia as far as metals industry is concerned.
According to Joshua, the huge investments in construction projects were dramatically driving this industry. "Metal 2015 offers the joining, cutting and surfacing industries of the West an ideal platform for making forays into this promising market," he stated.
According to Khanna, the construction and manufacturing sectors are strong and important components of the Middle East's economic engine.
"Buoyed in particular by the booming oil markets, construction and manufacturing have been boosting the demand for the metals industry and relevant technologies," he observed.
The countries in the Mena region are likely to become important global centres for producing iron and steel in the next five to 10 years, he added.
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