Deputy Prime Minister for Industrial Development and Minister of Industry and Transport Kamel el Wazir said the Egypt market has all potentials that enables it to develop strong automotive industry, in addition to the presence of many auto feeding industries in the country.
During his meeting with representatives of General Motors Egypt, led by Sharon Nishi, the Chair and Managing Director of General Motors Egypt and North Africa, Wazir said that a network of free and preferential trade agreements concluded with a large number of trading partners and major regional and global economic blocs, a matter that enables local Egyptian products to access a large number of foreign markets, with exemptions from customs duties.
The meeting took up the company’s current projects in the Egyptian market, and the future projects that the company is considering to establish in Egypt, including the car models that the company intends to manufacture in Egypt, Wazir added.
The meeting reviewed the Egyptian State’s plans to develop the automobile industry and its feeding industries, in a way that contributes to catering for the needs of the local market and exports to foreign markets, particularly countries with which it has concluded free trade agreements, Wazir said.
The meeting addressed the company’s requirements and proposals that qualify it to expand in the Egyptian market, in a way that contributes to pumping real investments, localizing auto industry, and securing more jobs for youth, as the company’s most important proposals included accelerating the implementation of the National Automotive Industry Development Program (AIDP), the minister said.
The “Chevrolet Optra” car will be the first new model to be registered in the program and designed with the highest local value-added rate, the minister added.
In the coming period, the Egyptian State will work on increasing exports, particularly industries that have significant local value added, Wazir said.
