October 6, 2017 / 10:26 AM / 10 months ago

Steel producing nations to discuss overcapacity in Berlin in November

BERLIN (Reuters) - 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.

FILE PHOTO - State Secretary at the German Ministry for Economic Affairs Matthias Machnig attends a meeting with Chinese counterparts after German Economy Minister Sigmar Gabriel canceled his attendance in Beijing, China, November 1, 2016. REUTERS/Thomas Peter

“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.

Reporting by Gernot Heller; writing by Paul Carrel; editing by Victoria Bryan and Jason Neely

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