Egypt signs a deal with a German office for cars manufacturing strategy

Egypt’s Ministry of Industry has signed a deal with a German office to draft a number of articles regarding the country cars manufacturing strategy.

The Minister of Industry Tarek Qabil said that drafting the new strategy would be completed and presented to the Egyptian Parliament within two months.

Qabil exclusively told Amwal Al Ghad that the strategy includes punch of incentives to attract the international cars makers to locally manufacture and exploit the trade agreements which Egypt are committed to and which allows it entry into various markets around the world.

The Minister added that the strategy articles has been previously negotiated with all the car makers and cars agents working in the Egyptian market especially those related to the local component rates and the taxes incentives available to them.

On the other hand, it’s expected that the Egyptian market will witness full custom exemption for all cars coming from the European Union by 2019 according to the European partnership agreement which Egypt is committed.