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Russia suggests creating OPEC type international association in aluminum industry

February 27, 21:06 UTC+3

The suggested association may also deal with deep conversion of aluminum, prevention of overproduction and other matters

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SOCHI, February 27. /TASS/. Russia suggests setting up an OPEC type international association in the aluminum industry, Industry Minister Denis Manturov said on Monday on the sidelines of the Russian Investment Forum (Sochi 2017).

"This at the proposal stage so far. We would like it to be similar to the OPEC - so that this organization functions with direct government participation and government representatives, industry ministers in particular. Even an association will suffice for the first stage. The most important is that all nations being main producers and exporters of primary aluminum agree upon principles of the common policy in the field of standard and technologies," Manturov said.

The suggested association may also deal with deep conversion of aluminum, prevention of overproduction and other matters "that may influence on rollout of new technologies, new standards, and coordination of new production facilities development programs," the minister said.

The association may have a consulting authority status but may have some regulatory function in the course of its development, Manturov said. Association members can be Russia, China, UAE, Bahrain, Qatar, and Saudi Arabia, he added.

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