Trade co-operation talks with Russia
CAIRO, September 13, 2018 - Minister of Public Enterprise Sector Hisham Tawfiq had talks on Thursday with Russian trade representative in Cairo Nikolai Aslanov on means of boosting bilateral co-operation in the heavy industries domain.
In a statement yesterday, the minister said the talks tackled means of promoting co-operation between the ministry’s companies and the Russian side in various domains, especially car manufacturing industry.
The talks reviewed plans to develop El Nasr Automotive Manufacturing Company, he said, noting that no foreign investors would be allowed to buy stakes of the company.
He added that the development plan focuses on using more local components in car manufacturing.
Aslanov said Russian companies are interested in contributing to the development of El Nasr Automotive Manufacturing Company and auto-feeding industries.