Comprehensive foreign reports, recently through the Egyptian Cairo Trade Fair, Indian parts companies began to see the potential and attractiveness of the Egyptian automobile market for India, and it is possible to increase cooperation with the country in the future.
Egypt has become the country with the highest automobile production in the Middle East and North Africa, and it is also the center for the export of parts and components to Africa, the Middle East, and Eastern Europe.
In 2014, sales of passenger cars in Egypt increased by 24%, sales of cars increased from 220,000 in 2013 to 273,500, and commercial vehicles also increased by 20% to 75,600 units.
According to OICA's data, the number of passenger cars and commercial vehicles in Egypt has reached 5.3 million. The market potential for complete vehicles and parts and components is very large.
Egypt already owns a manufacturing park of a Chinese company. At the recent trade fair, the government also plans to provide Indian companies with similar functional areas, and intends to provide free land use and low-cost labor and other preferential policies.
There are free trade agreements between Egypt, Europe, Turkey, and the whole of Africa. Therefore, Indian companies set up manufacturing centers in the country to provide convenience in exporting to the above areas in addition to supplying local markets.
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