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Sino-Egyptian Relations: manufacturing Deals Signed

Chinese automakers to help partners dominate regional market, lower costs

The China-Arab States Auto Cooperation Conference witnessed the signing of two Sino-Egyptian agreements that aim to shift the two countries’ automotive cooperation toward localization, as part of the growing network of international ties along the Belt and Road, China daily reported. The China Council for the Promotion of International Trade, Automotive Industry Committee and Egypt’s Holding Company for Maritime and Land Transport inked the deals relating to deepening Sino-Egyptian links in the automotive industry. «Chinese auto exports are recovering after years of decline, with Egypt being one of the biggest export destinations among the Arab states since 2015,» said Wang Xia, chairman of the Automotive Industry Committee of the China Council for the Promotion of International Trade, in his speech at the conference held recently in the Ningxia Hui autonomous region. Mohamed Youssef, chairman of the Holding Company for Maritime and Land Transport, said: «We are going to seal the deal on the production of a total of 900 vehicles a month, with an expectation to leverage Chinese automakers’ experience in assembling and machinery.» Youssef announced that the organization’s next critical target is to secure agreements on tractors and bulldozers with Chinese partners in 2018.  Egypt has a huge domestic market that could consume a large amount of China-made vehicles, because the products suit local demand, offering lower prices and economic fuel consumption, according to Egyptian Trade and Industry Minister, Tarek Kabil. He said Egypt’s multi-million-dollar automotive market is growing. According to Kabil, Egypt’s development strategy is to focus on local car manufacturing in a bid to conquer its neighbouring markets, said Kabil. 900 The number of vehicles that will be produced per month in Egypt by the Chinese automaker.

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