Badr Abdelatty, Minister of Foreign Affairs, Emigration and Egyptian Expatriates, said that localizing the automotive industry is a key priority for the Egyptian state.

His remarks came during a meeting on Wednesday with the president of Japan’s Toyota Tsusho Group, where the two sides discussed ways to strengthen economic and investment cooperation between Egypt and the group.

The Foreign Minister expressed Egypt’s interest in expanding the group’s contribution to developing the automotive sector and Japanese industries in Egypt.

He also reaffirmed Egypt’s interest in establishing a Japanese industrial zone within the Suez Canal Economic Zone and increasing the presence of Japanese companies in the Egyptian market, allowing them to benefit from the zone’s competitive advantages.

In this context, Abdelatty said Egypt looks forward to cooperating with Toyota Tsusho to attract more Japanese companies and promote the transfer of technology and industrial expertise to Egypt.

He also highlighted Egypt’s interest in strengthening cooperation with Toyota Motor in local manufacturing, feeder industries, and the establishment of regional supply chains based in Egypt.

Abdelatty reviewed the recent developments in the Egyptian economy and the reforms implemented by the state over the past years, which have helped enhance the competitiveness of the economy, support the green transition, and attract foreign direct investment.

He also referred to the launch of Egypt’s “National Narrative for Economic Development,” which outlines priorities aimed at empowering the private sector and attracting investments in renewable energy, infrastructure, and manufacturing, in addition to the government IPO program under the State Ownership Policy.