Trade minister, AOI head discuss boosting local manufacturing

CAIRO, April 11 (MENA) – Minister of Trade and Industry Nevin Gamea and Head of the Arab Organization for Industrialization (AOI) ِAbdel Me'nem el Terras discussed Saturday boosting the local manufacturing and increasing the added value for the Egyptian products.

Chairing a delegation from the Trade and Industry Ministry, Gamea paid a visit to AOI to get acquainted with its potentials in the field of manufacturing and various expertise, including renewable energy, medical devices, refining wastewater, along with the programming, communication electronics, transport and vehicles technologies and other specialties.

The meeting aimed at implementing Egypt’s plans, aimed at heavily relying on the national industry and using the local-manufactured components in different industrial domains to meet the local market demands.

Such plans could replace much of the country’s imports with local components, which should eventually could fulfill the fiscal consolidation targets, by lowering the trade deficit.

Gamea stressed that the Trade and Industry Ministry was keen on using the considerable potentials enjoyed by AOI, which could be seen as vital and effective in manufacturing several products and components instead of exporting such items.

For his side, el Terras expounded the AOI's enormous potentials and plans, which were fully ready to serve the country’s needs, especially amid the suspension of several activities worldwide, due to the spread of coronavirus pandemic.