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