The 2022 World Cup in Qatar and the Expo 2020 in Dubai
The UAE is the first Gulf country to establish a strategic partnership with China. From the establishment of the China-Arab Intergovernmental Cooperation Committee mechanism to the realization of mutual visa exemption for the citizens of the two countries, to the establishment of the China-UAE joint investment fund and the direct exchange of RMB to the UAE Dirham, in recent years, China-Arab cooperation has become comprehensive, pragmatic and efficient. New pattern of rapid development. China has been the UAE's largest trading partner for many years, and the UAE is China's second largest trading partner and largest export market in West Asia and North Africa.
The 2022 World Cup in Qatar and the Expo 2020 in Dubai indicate that infrastructure projects will be the main driving force for steel demand in the region at this stage. In the future, the main steel demand in the region will be related to the Saudi Vision 2030 and the new city Neom to be built in northwestern Saudi Arabia. George Matta, chief marketing officer of Egypt's largest steel producer Ezz Steel, said that the construction of Neom alone will consume about 4 million tons of steel in the next 7 to 10 years.