REUTERS/Stringer/File PhotoCAIRO - 12 March 2020: What is going on in the Egyptian automotive market? The percentage of the Egyptian component in the deal is 45%, to be followed by the next stages of joint manufacturing of other types of electric cars. The Egyptian-European Trade Agreement covered industrial goods, agricultural commodities and manufactured agricultural products. Regarding cars, Egypt started implementing the trade cooperation agreement with the European Union in 2010, so European car customs began to decline gradually. The widespread campaign emerged after customers had an idea about the margin profit of selling cars and deemed it too high.

Source: Egypt Today March 11, 2020 21:33 UTC