Dhaka, Sep 12 (UNB)- Prof. Dr. Md. Salim Uddin, FCA, FCMA, Chairman, Executive Committee of Islami Bank Bangladesh Limited and Chairman of Bangladesh House Building Finance Corporation presented a paper titled ‘Review of Iron and Steel Market: Global Perspective’ in an International Conference organized by Steel Group recently at the Hotel Redisson Blue, Chittagong.
Institutions from 19 countries including USA, India, Japan, Korea, China, Australia, Germany, Austria, Singapore, Belgium and Italy attended the two-day seminar.
Speakers at the seminar highlighted the global impact of the iron and steel industry, present scenario, future prospects alongside its qualitative development through sustainable technology and expansion of the market.
Prof. Dr. Md. Salim Uddin in his speech mentioned that in the year 2017, the total steel production in the world is 1.69 billion metric tons out of which China produces 49.2%. At the same time, Bangladesh produced only 7 million metric tons. In absence of own raw materials, Japan has been able to produce about 6.2% steel product of the world. Our neighboring country India has also continued its efforts in the industry.
In these circumstances, it is essential to take appropriate planning for the development of the steel industry of Bangladesh. He also said that by the year 2030, the demand for iron and steel would reach 2 billion metric tons.