Egypt’s Minister of Trade and Industry Ahmed Samir on Monday asserted the great significance state attaches to the development of automotive industry through adopting a new strategy focused on providing massive investments to this industry.
The minister made the remarks during a meeting with visiting Deputy Prime Minister and Minister of industry and trade of the Republic of Tatarstan of the Russian Federation Oleg Korobchenko, who is leading a delegation comprising representatives of government bodies concerned with industry and investments, alongside representatives of mega industrial firms in the Asian country.
The visit is aimed at probing means of boosting economic and trade relations between both sides, alongside holding discussions on the updates of the global economic situation and a set of file of mutual concern.
Minister Samir called on both governments to encourage industrial firms towards achieving the principal of industrial integration in the production processes, in order to grant access to their products to the markets of the Eurasian Economic Union member states, in light of the projected free trade agreement set to be sealed between Egypt and countries of Eurasian bloc.
He pointed out to mulling the possibility of joint manufacturing of vehicles through supplying the basic components from the Republic of Tatarstan.
