The global aluminium associations, which incorporated the United States, Europe, Canada and Japan, applaud G7 Trade Ministers’ commitment to “stronger international rules on market-distorting industrial subsidies and trade-distorting actions by state enterprises.”
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On 28th May 2021, following the accomplishment of the meeting, a joint commitment statement has been delivered by G7 Trade Ministers, acknowledging the unfavourable impacts of market-distorting practices on citizens and businesses.
“These practices create unfair competitive conditions, hindering the development and use of innovative technologies and undermining the proper functioning of international trade. Of particular concern are harmful industrial subsidies, including those that lead to severe excess capacity, a lack of transparency regarding the state’s role in the economy and the role of state enterprises in unfair subsidization, and forced technology transfer.”
In welcoming the commitment to strengthening international rules, Tom Dobbins, President & CEO of The Aluminum Association, Gerd Götz, Director General of European Aluminium, Jean Simard, President & CEO of the Aluminium Association of Canada and Yoshihisa Tabata, Executive Director of the Japan Aluminium Association said:
“We certainly welcome and value the shift from bilateralism to multilateralism, which is the only way to resolve this global issue. The aluminium industry across our countries has been working together to ensure that our optimized production and recycling systems, and the 2 million direct and indirect jobs that they support, do not fall victim to the enormous subsidies from state enterprises that are distorting markets along the aluminium value chain. We have been asking our governments to work together as well, and to work with us; they have responded.”
“We applaud G7 Trade Ministers for confronting this long-standing issue and join them in recognizing the essential contributions of the OECD such as its recently released report on below-market finance to improving the transparency of otherwise opaque state policies and practices. We are committed to support their continued efforts to build modern trade rules that address the excesses of state capitalism.”
“Our member companies are not seeking protection from competition within or outside our countries – we are seeking a global level playing field, with free, fair, and open markets. Our workers, our companies, our customers, and all of our citizens deserve no less.”
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