Members of the SMBG at the first meeting.

A new business group has been formed in the UAE in a bid to enhance the competitiveness of local steel companies and support the sector’s growth and development. 

Established under the umbrella of Dubai Chamber of Commerce (DCC), the Steel Manufacturers Business Group (SMBG) aims to provide a platform for iron and steel companies, address common challenges and boost the sector’s competitiveness.

At the first meeting of the business group at the DCC headquarters, Chairman of the SMBG Bharat Bhatia – who is also the CEO and Founder of Conares, the second largest private steel manufacturer in Gulf – stated that the objective of the group is to help keep the steel market in Dubai and the Northern Emirates efficient, meet the domestic and regional demands and balance the supply and demand equation.

“Our major focus would be on inviting the trading community group to have a close relationship and support the local market in meeting the needs of traders. Our purpose is to develop a positive relationship between manufacturers and traders in favour of the economy,” Bhatia said.

He added that the group will share insights about the steel industry, touching several topics like rebar imports, market trends, product costing, promote local products and help members to raise key market issues with the authorities.

The DCC works closely with various business groups and councils that operate under its umbrella, to address shared challenges, share recommendations for improving ease of doing business, and provide them access to global growth opportunities.