Deputy Prime Minister for Industrial Development and Minister of Industry and Transport, Kamel Al-Wazir, stated that the volume of trade exchange between Egypt and Malaysia has grown by 55%, with Egyptian exports to Malaysia increasing by 35%, focusing on products like phosphate, fertilizers, agricultural goods, and iron.

Al-Wazir highlighted the strong relationship between Egypt and Malaysia, noting that Egypt is Malaysia’s fifth-largest African trading partner.

This came during his participation at the inauguration ceremony of the Proton Saga car factory by the Ezz El-Arab Group.

 The timing of the factory’s inauguration coincides with the official visit of Malaysian Prime Minister Anwar Ibrahim to Egypt, where he met with President Abdel Fattah El-Sisi.

 The two leaders discussed strengthening political ties, and Malaysia agreed to host the second meeting of the Egypt-Malaysia Joint Committee in the near future.

Both sides emphasized enhancing cooperation in areas such as digital economy, agricultural products, infrastructure development, and renewable energy.

 They also highlighted the importance of the ASEAN Free Trade Agreements and the COMESA common market for mutual benefit.

Al-Wazir explained that Egyptian-Malaysian collaboration has entered a new phase, focusing on the strategic automotive industry as part of Egypt’s national strategy to localize production.

The Ezz El-Arab factory aims to produce 40,000 cars annually, with plans to reach 80,000 vehicles, achieving a local component percentage of 48% with an expected investment of 3 billion EGP.

 In its first year, 10% of production is targeted for export, with job creation estimated at 300 opportunities.