Min­istry of In­dus­try ex­cludes pos­si­bil­ity for in­dus­trial fraud in buses man­u­fac­tur­ing af­ter sign­ing MERCOSUR agree­ment: Min­is­ter of Trade and In­dus­try

The Daily News Egypt - - Business | Automotive -

The Min­istry of Trade and In­dus­try ruled out the pos­si­bil­ity of the MERCOSUR open­ing doors for in­dus­trial fraud amid con­cerns from ve­hi­cle man­u­fac­tur­ers es­pe­cially buses af­ter the im­ple­men­ta­tion of the agree­ment, with fears from harm done to lo­cal prod­ucts in the ab­sence of the pref­er­en­tial pro­ce­dures for the Egyp­tian prod­ucts.

Tarek Ka­bil said that he rules out the pos­si­bil­ity for open­ing the door for in­dus­trial fraud.

Fears from buses man­u­fac­tur­ers in­creased re­gard­ing the abil­ity of any trader to im­port buses on two or three por­tions then assem­ble them and have the sen­tence “Made in Egypt” writ­ten on them with the pos­si­bil­ity for ex­port­ing them with­out any eco­nomic fea­si­bil­ity achieved for the state.

A gov­ern­ment source stressed that the MERCOSUR agree­ment was ac­ti­vated since the ap­proval of Ar­gentina in May. He added that the min­istry is seek­ing to carry out aware­ness cam­paigns for in­vestors and man­u­fac­tur­ers of the im­por­tance of the agree­ment as well as ex­plain­ing the state’s strat­egy.

The Min­istry of Trade and In­dus­try Tarek Ka­bil

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