ArcellorMittal's survival questioned: Šarović calls on all levels of government to resolve the problem

(Patria) - All levels of government, especially the entities, must be involved in resolving the problems of ArcellorMittal Zenica's difficult business operations, the largest steel producer in Bosnia and Herzegovina, because 10,000 jobs in the steel mill and in the mines in both entities are at risk, it was concluded at today's meeting between the Minister of Foreign Trade and Economic Relations of BiH, Mirko Šarović, and the General Director of ArcelorMittal, Biju Nair.

The meeting was initiated due to the increasingly difficult business operations of ArcelorMittal, which occurred after the introduction of protective measures on steel imports by the USA, the European Union, and also tariffs introduced by Kosovo.

Minister Šarović pointed out that the Ministry, within its competences, has already undertaken and is undertaking a series of activities to mitigate the consequences of the implementation of the Implementing Regulation of the European Commission on the introduction of definitive safeguard measures on steel imports, and that the EU has introduced a specific quota only for Bosnia and Herzegovina. However, this only applies to the so-called production category 13, and in the meantime, other potential markets have also introduced protective measures: Turkey, Algeria, Morocco, Egypt...

According to ArcelorMittal's information, the survival of their company is in question, given that with the aforementioned export restrictions on their products, they must reduce investments and projects, and some new initiated projects have already been "put on hold".

Support from other competent institutions is necessary, it was concluded at the meeting, especially support from the competent entity institutions and chambers of commerce. The Ministry of Foreign Trade and Economic Relations of BiH will continue to work in contact with the competent European institutions to find more favorable solutions to ensure a better position for steel exports, primarily in order to preserve the jobs of employees in this industry.