DUBAI, 26th May, 2022 (WAM) -- Dubai Chamber of Commerce has announced the establishment of Steel Manufacturers Business Group, which aims to unify the voices of iron and steel companies, address common challenges and boost the sector’s competitiveness.

The new business group recently held its first meeting at the Chamber’s headquarters, which was attended by Bharat Bhatia, Chairman of the Steel Manufacturers Business Group and Hassan Al Hashemi, Vice President of International Relations at Dubai Chamber of Commerce.

The meeting outlined new plans and priorities to support the growth of companies operating in the iron and steel industry.

Al Hashemi stressed the significance of the group that provides the right platform for industry players to voice their concerns, share knowledge and recommend policy changes to improve the business environment. The establishment of the group is a prime example of the close and seamless collaboration between the public and private sectors in Dubai, which remains one of the emirate’s top competitive advantages, he explained.

Bharat Bhatia said, 'Being CEO & Founder of Conares, the second largest private steel manufacturer in the Gulf, I am extremely proud and happy to lead the manufacturers group. The purpose of SMG is to help keep the steel market efficient in Dubai and the Northern Regions, in order to meet the domestic and regional demands, balancing the supply and demand equation.

'Our major focus would be inviting the trading community group to have a hand and glove relationship and support the local market adjusting the desire of the traders. Our purpose is to develop a positive relation between manufacturers and traders in favour of the economy,' Bhatia said.

He added that the Group will share insights about the steel industry touching several topics like rebar imports, market trends, product costing, promote local products as it will help the members raise the key market issues to the authorities, and keep the steel market efficient in the UAE and meet the domestic, regional demand, balancing the supply and demand equation.

Business groups and councils play a crucial role in promoting and supporting Dubai’s economy as they unify their efforts to ensure a favourable business environment and support the interests of their respective members.

Dubai Chamber of Commerce works closely with various business groups and councils in Dubai that operate under its umbrella, to address shared challenges, share their recommendations for improving ease of doing business and providing them access to global growth opportunities.

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