40 countries to hold steel conference in Dec.PARIS Paris, in Greek mythology Paris or Alexander, in Greek mythology, son of Priam and Hecuba and brother of Hector. Because it was prophesied that he would cause the destruction of Troy, Paris was abandoned on Mt. , Sept. 19 Kyodo (EDS (Electronic Data Systems, Plano, TX, www.eds.com) Founded in 1962 by H. Ross Perot (independent candidate for the President of the U.S. in 1992), EDS is the largest outsourcing and data processing services organization in the country. : CLARIFYING 1ST, 2ND PARAS, ADDING MORE DETAILS) Senior government officials from 40 countries agreed Tuesday at a meeting in Paris to hold an international conference in mid-December to discuss trade rules and other measures to reduce overproduction o·ver·pro·duce tr.v. o·ver·pro·duced, o·ver·pro·duc·ing, o·ver·pro·duc·es To produce in excess of need or demand. o in the global steel market. The officials agreed on the final day of a two-day meeting under the Organization for Economic Cooperation and Development Organization for Economic Cooperation and Development (OECD), international organization that came into being in 1961. It superseded the Organization for European Economic Cooperation, which had been founded in 1948 to coordinate the Marshall Plan for European (OECD OECD: see Organization for Economic Cooperation and Development. ) to discuss specific measures for each country to address overcapacity o·ver·ca·pac·i·ty n. Too great a capacity for production of commodities or delivery of services in relation to actual need: the problem of overcapacity in many large industries. , which is negatively affecting the steel market. The participants also adopted a resolution calling for investigation into inefficient government subsidies and unfair trade practices, and for countries to coordinate their policies to reduce excessive production. ''Officials from each country will take back the resolution to their governments and will be checking current regulations and considering what kind of international cooperation they can make,'' a Japanese delegate said. In the Monday meeting, in which representatives of the steel industry also took part, the participants agreed that inefficient, excessive steel-producing capacity is having an adverse effect on the global steel market. The OECD will hold a regular steel committee meeting on Wednesday, and discuss matters such as bringing international production data into line, as well as boosting transparency in the steel industry. |
|
||||||||||||
Printer friendly
Cite/link
Email
Feedback
Reader Opinion