Tarek Qabeel: Egypt Seeks New Auto Industry StrategySource: www.export-egypt.com 5/13/2016, Location: Africa |
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 Egypt seeks a new strategy for the automotive industry with a view to reaching full manufacturing instead of the current assembly, said Industry and Trade Minister Tarek Qabeel.
"There are several ongoing studies on this strategy," Qabeel told MENA upon arrival to attend an Arab economic forum in Beirut. According to this strategy, Cairo will focus on luring international brands, he said, adding that this would ease pressure on the national currency. More domestic production will lower foreign currencies required for imports, he noted. The minister said that Egypt's exports rose in the past two months compared to a year and half ago. |
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