Industry Minister Explores Automotive Localization Through Egyptian Partnerships with Turkey and Morocco

Minister of Industry Khaled Hashem discussed opportunities to strengthen industrial cooperation in the automotive sector and vehicle components with both Turkey and Morocco during his participation in the 35th Annual Meeting and Business Forum of the European Bank for Reconstruction and Development (EBRD) in Riga, Latvia.

Expanding Automotive Cooperation with Turkey

During a meeting with Osman Celik, Turkey’s Deputy Minister of Treasury and Finance, the minister emphasized the importance of increasing Turkish investments in Egypt, particularly export-oriented projects. He highlighted the need to move beyond traditional trade exchange toward joint manufacturing by integrating Egyptian and Turkish production inputs to develop competitive products for international markets.

The proposed areas of cooperation include engineering industries and automotive components, alongside home appliances, chemicals, fertilizers, and renewable energy components. The initiative aims to enhance industrial integration between the two countries while increasing the added value of locally manufactured products.

Strategic Automotive Partnerships with Morocco

Hashem also met with Mohamed Tarek Bashir, Director of Treasury and External Financing at Morocco’s Ministry of Economy and Finance, to discuss opportunities for deeper industrial cooperation. Automotive manufacturing and vehicle components emerged as key sectors with strong potential for strategic partnerships between the two countries in the coming period.

The minister stated that Egypt is seeking to expand cooperation with Morocco in industries that offer competitive advantages, led by the automotive sector and its components, in addition to food industries and textiles. Discussions also covered mechanisms to activate joint trade agreements in order to facilitate bilateral trade and improve access to African and global markets.