Aluminium industry calls for global forum to tackle overcapacity
G20 leaders will in Germany to discuss topics for the global agenda, most notably trade and investments. The aluminium industry urges the G20 to address the present situation of Chinese overcapacity, which causes global imbalances in the aluminium industry and distorts international trade flows.
“The G7 took a step in the right direction by pushing for the removal of all trade-distorting practices and calling for a truly level playing field”, said Gerd Götz, director general of European Aluminium.
“But the G20 must go further. It must take action. If it does not, it will give a signal that distortive state intervention is not only possible but accepted, despite WTO rules”, continued Mr Götz.
European Aluminium is advocating for the creation of a Global Forum on aluminium excess capacity with transparent data and monitoring tools.
European Aluminium has often pointed to Chinese aluminium excess capacity as the root cause of the challenges faced by the aluminium industries in Europe and beyond. A broad majority of speakers reconfirmed this view just last week at a hearing in Washington DC, at which Mr Götz also testified.
Earlier this year, European, American, Brazilian and Canadian aluminium industries called for a common negotiated solution at G20 level to address this global issue.
