Abdel Latif made the remarks on the sidelines of signing a cooperation agreement on the joint project between Sakr Factory For Advanced Industries, which is an affiliate of the AOI, and Arabian Waterproofing Industries Co. (AWAZEL) in Saudi Arabia.

The AOI head expressed appreciation for sealing a cooperation deal with AWAZEL factory, one of Saudi Arabia's major industrial corporations which carries out diversified industrial activities with a umber of foreign countries.

He pointed out to the underway ambitious strategy of the AOI which has been witnessing success in reaching serious partnerships with major international firms.

Under the cooperation deal, the Sakr Factory and AWAZEL company will set up partnership with the aim of localizing nanotechnology through manufacturing, marketing, selling and distributing the products of "Nanoman" with local components, said AOI chief.

The deal, also, entails fostering the joint marketing plan for Nanoman products in Egypt as well as in Arab and African countries, he added.

The project aims at reducing imports, boosting the added value of national industries, promoting local manufacturing alongside creating more job and training opportunities for youths, Abdel Latif said.

Meanwhile, ZAWAMEL Factory General Manager Mohammed Soliman al Muaiqly hailed cooperation with the AOI in light of its distinguished leading role in all domains of the Arab industries since its inception.

He praised the AOI strategy on localizing cutting-edge manufacturing technologies. AWAZEL director, also, expressed willingness for furthering the partnership with the AOI in various industrial sectors.