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4th Egypt Automotive Summit explores investment opportunities in auto sector
Summit to discuss impact of joining BRICS, Mercosur trade blocs on future of automotive industry
Daily News Egypt Published in Daily News Egypt on 04 - 12 - 2017

Mohamed Aboul Fotouh, CEO of Egypt Automotive, said that this year's summit will focus on the changes experienced in the Egyptian auto sector after the floatation of the exchange rate on 3 November 2016, as well as subsequent economic decisions. The summit will also include a discussion between all parties and companies operating in the auto market about the reasons behind the delay of issuing Egypt's new automotive strategy.
Aboul Fotouh added that this year's summit will explore the available investment opportunities in the automotive industry and production requirements in the SCZone. It will discuss the impact of joining the BRICS and Mercosur trade blocs on the future of the automotive industry and the role of the private sector in the development of the mass transport system.
Aboul Fotouh revealed that the summit will, for the first time, include a number of workshops to discuss the role of modern technology in combatting commercial fraud, especially in spare parts and production requirements. The workshops will also review the positive impacts of banking and non-banking sectors on the automotive sector, especially stock exchange listing and trading companies. In addition, the workshops will tackle available ways to develop maintenance and aftersales services, as well as mechanisms of increasing exports of feeder industries.
Egypt Automotive, launched for the first time in 2014, is the largest and first forum devoted to the automotive industry in Egypt, which discusses all important issues related to the automotive sector. The annual summit witnesses the participation of government representatives, including ministers and state-run companies, as well as major private companies in the auto sector.
Egypt Automotive has announced its partnership with Informa Art Line last month to present the fourth round of the annual motor industry summit.
AutoTech is the 24th Cairo International Exhibition for Spare Parts, accessories, car components, maintenance equipment, workshops, service stations, and feed-in industries. It is hosted by the Cairo International Convention and Exhibition Centre from 10 to 12 December 2017.
Mostafa Khalil, chairperson of AutoTech, expected that the upcoming round of the exhibition will witness great success, especially that more than 100 foreign companies will participate in this round.

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