Exports of auto feeding industries in Egypt hit $500mn annually

The total volume of Egyptian exports of auto feeding industries is estimated at US$500 million annually, Trade Minister Tarek Qabil said Thursday.

Qabil asserted  that this volume could be doubled due to the potentials that Egypt owns to grow this industry.

On the sidelines of Automech formula 2016, the minister stated that Egypt has a prominent chances in the field of auto industry and its feeding industries.

Egypt targets achieving great growth in auto sector within the upcoming period as it enjoys all potentials and qualifications to start real auto industry rather than assembly, the minister pointed out.

The 23rd Cairo International Motor Show-Automech Formula 2016 kicks off Wednesday at Cairo International Exhibition & Convention Centre from 16 to 21 March 2016.

It explores new frontiers of automotive markets in an event showcasing the recently launched technologies and innovations of the automotive industry.