Türkiye joins global steel overcapacity action framework

Trade Minister Omer Bolat said Türkiye and fellow members of the Global Forum on Steel Excess Capacity have adopted a comprehensive framework to combat global steel overcapacity during a ministerial gathering in Milwaukee, Wisconsin.

GFSEC adopts joint action framework

Bolat announced on the Turkish social media platform NSosyal that participating countries endorsed the Comprehensive Framework for Joint Action alongside a ministerial statement. The forum assessed methods to prevent excess capacity from distorting international steel markets while coordinating investment, production and trade policies among members.

G20 trade ministers convene in Milwaukee

The two-day meeting convened on the sidelines of the G20 trade ministers' gathering hosted by US Trade Representative Jamieson Greer, running from Sept. 30 to Oct. 1. The assembly takes place amid mounting geopolitical tensions and economic fragmentation risks weighing on global commerce.

Ankara outlines broader trade priorities

Bolat noted that Ankara is presenting solutions regarding food security being used as political pressure, adherence to the most-favored-nation principle and eradicating forced labor from supply chains. He added that Türkiye would continue efforts under President Recep Tayyip Erdogan to enhance its competitiveness and defend its interests on international platforms aligned with the Century of Türkiye vision.