The sixth edition of the Bureau of Middle East Recycling (BMR) International Conference took place at the Madinat Jumeirah hotel in Dubai, United Arab Emirates (UAE) 4-5 March 2017. BMR President Salam Al Sharif, chairman of the UAE-based Sharif Group, says more than 450 metal producers, traders, recyclers and consumers from around the region and world gathered for the event.
Sharif was among the speakers at the conference, with his presentation covering the “Shifting Global
Economic Landscape and its Effect on Base Metals.” Sharif said that fundamentals have been more recently playing a heavier “rational role” in the supply and demand balance of base metals.
He remarked that while the petro dollar had earlier been the main contributor to the massive growth of the Gulf Cooperation Council (GCC) region, its sharp decline in value “has shifted a trade surplus to deficit; investment to austerity; expansion to contractions; and [led to] a diversity [away from] oil.”
The impact of these global trends on the Middle East, where the oil price appears to determine the fate of so many sectors, has been especially hard, said Sharif.
The BMR president also emphasized the importance of cooperation between BMR and other national and regional associations working together to overcome trade challenges, “all for the betterment of [their] members and the industry as a whole.”
Sharif said the Seventh BMR International Conference will be held in March 2018, again in Dubai, and also urged BMR delegates to attend the Bureau of International Recycling (BIR) Convention in Hong Kong 22-24 May 2017 and the first ever BIR Convention in India, in New Delhi 14-16 October 2017.