Two-Day Information Meetings Held in İzmit and Bursa
Hyundai Steel held a “Trade Issues Information Meeting” for its local customers in Türkiye on August 19-20 in İzmit and Bursa.
The meetings addressed current developments in the European Union’s trade regulations and the impact of these regulations on companies’ operations. Hyundai Steel shared current practices and potential response strategies with its customers to help companies operating outside the EU access information on regulatory developments in a timely manner.
Developments in the Scope of CBAM Discussed
One of the main topics of the meeting was CBAM. Hyundai Steel provided information on the mechanism’s key regulations and implementation procedures, while also addressing developments regarding the future expansion of its scope to include steel derivatives, automotive parts and home appliances.
Significant changes in EU trade policy and their potential impacts on companies were also evaluated during the meetings. The program also included a question-and-answer session addressing issues encountered by customers in their commercial activities.
Automotive Suppliers Attended the Meeting
As Türkiye is an important manufacturing hub supplying automotive materials and parts to the EU, representatives of companies in the regional automotive supply chain attended the meetings.
According to one participant, Turkish companies need to closely monitor regulatory changes such as CBAM due to their close commercial relationships with customers in the EU. It was stated that the meeting helped them better assess the impact of the regulations on their operations and the measures that could be taken.
Hyundai Steel Monitoring Trade Regulations
Hyundai Steel stated that, amid uncertainties in the global trade environment, it is monitoring policy changes in its major export markets and analyzing their potential impacts.
The company plans to share the information obtained with its business units and customers, strengthen its response capabilities regarding global trade regulations, and continue cooperation with customers.
A Hyundai Steel official stated that the company will continue to improve its response capabilities to regulatory changes through its expertise in global trade regulations and close cooperation with local customers.
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