(MENAFN- Daily News Egypt)
Deputy Prime Minister for Industrial Development and Minister of industry and Transport, Kamel El-Wazir, met with the US Ambassador to Cairo, Herro Mustafa, and her delegation to explore opportunities for enhancing cooperation between Egypt and the USA in the industrial and transportation sectors.
El-Wazir highlighted the Ministry of Transport's long-standing collaboration with American companies in the railway sector. General Electric (now Wabtec) previously supplied 210 new railway locomotives and refurbished 81 locomotives from the current fleet, significantly improving railway traction power, passenger services, and schedule punctuality. Additionally, there has been cooperation with PRL in maintaining railway locomotives.
The minister expressed his desire to deepen cooperation in the industrial and transport sectors, especially given the significant advancements in Egypt's transport sector and the comprehensive plan to develop its industrial sector. He emphasized Egypt's commitment to advancing these sectors as drivers of sustainable economic development, underscoring the importance of US support in localizing industries. This includes new and renewable energy fields, green hydrogen production, solar panel manufacturing, wind energy factories, and advanced green industries. Such cooperation would position Egypt as a manufacturing hub for American products, facilitating exports to Arab countries and the region.
El-Wazir also mentioned the Ministry of Transport's plan to establish 31 dry ports and logistics areas across the country, highlighting the potential for American companies to invest in these logistics areas. Locations such as Salloum, Rafah, Arqin, and Qustul are well-connected with railways, ports, and major roads, making them ideal for storing American goods and products.
He pointed out the opportunities for American companies to manufacture transportation means and traction engines in Egypt. There is also potential for collaboration on one of the high-speed train lines currently being established, specifically the fourth line of the electric high-speed train linking Port Said to Abu Qir.
Furthermore, El-Wazir noted the potential for cooperation in the automotive industry, as he plans to visit various industrial areas to review production processes, identify challenges, and find solutions, including for American companies operating in Egypt's car manufacturing sector.
US Ambassador Herro Mustafa emphasized Egypt's strategic role in the region and the strong relations it shares with the United States. She highlighted the American focus on enhancing commercial cooperation with Egypt to make it an export hub for the Arab world, particularly in the industry and transport sectors.
She also acknowledged Egypt's achievements in the transport sector, such as the New Suez Canal expansion and the Arish Airport development. Egypt's global ranking in road quality significantly improved from 118th to 18th.
Mustafa explained that September will witness the convening of the Strategic Dialogue event between Egypt and the United States in Cairo, followed by the joint US-Egypt Economic Committee meeting in Washington. Currently, a memorandum of cooperation between the Egyptian and American sides is being studied, covering several fields, to be signed on the sidelines of the committee meeting. This reflects the joint efforts by both governments to strengthen cooperation.
She noted that American companies operating in the car manufacturing sector in the Egyptian market are achieving significant successes, including a company that will celebrate the production of one million units in Egypt next month. This company wishes to inject new investments into the Egyptian market after overcoming some challenges regarding specifications and vehicle safety standards, which are still under review and resolution between the Egyptian Standards and Quality Authority and the American side.
Mustafa concluded that American companies will be invited to the upcoming Egypt International Energy Exhibition to strengthen relationships with their Egyptian counterparts in the energy sector. Notably, the embassy receives daily inquiries from American companies interested in entering the Egyptian market in various fields.
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