Several ministers, ambassadors, and heads of foreign and local companies will come together on Tuesday for the third Egypt Automotive Summit with the goal of signing supply contracts with the feeder industries.

This year, Business News is hosting the third summit through five sessions that discuss market issues during 2016, under the patronage and participation of Prime Minister Sherif Ismail, Minister of Trade and Industry Tarek Kabil, and Minister of Investment Dalia Khorshid, as well as chairperson of the Suez Canal Economic Zone (SC Zone) Ahmed Darwish.

This year’s conference will gain special attention from those who are in charge of automotive and feeding industries globally and regionally. The ambassadors of South Africa, Germany, France, and the Czech Republic will attend the summit. This is in addition to a number of different business and export councils, representatives of international companies—most notably Peugeot and Citroen representative Jean-Michel Isambert—as well as the Volkswagen Group representative, the president of the Egyptian-Chinese industrial zone, and the head of the Russian Industrial Zone in Egypt, said chairperson of Business News Mostafa Sakr.

Companies working in Egypt will have a significant presence with the participation of Nissan Motors Egypt general manager Isao Sekigushi, chairperson of Ghabbour Auto Raouf Ghabbour, chairperson of Bavarian Auto Farid Tobgui, and managing director of General Motors Egypt Tarik Atta, Sakr added. Representatives of Egyptian companies, in addition to the Egyptian Automobile Manufacturers Association (EAMA), Egyptian Auto Feeders Association (EAFA), and the Automotive Marketing Information Council (AMIC), will also attend the summit.

Since the end of last year’s conference, communications have been made with the automotive society through holding seminars to discuss how to implement the outcomes of the conference and shed light on many of the recently raised issues due to the latest economic decisions and their impact on the automotive industry and trade market, Sakr said.

The third annual automotive summit comes amid anticipation for the government’s approval of the automotive industry strategy in Egypt and the incentives within it that deepen the industry and increase Egyptian exports, in addition to the challenges posed on companies to benefit from the advantages of the strategy.

The automotive industry strategy has been the main focus in discussions at the first and second summits. Implementing the strategy this year represents a powerful engine in the market in the coming period by providing a clear vision for the future of investment in the industry on a competitive basis for the benefit of society and the private sector, said Sakr.

Egypt Automotive Summit has become the biggest event that brings together all parties working in the automotive and feeding industries sector, such as heads of manufacturing companies, agents, distributors, feeding industry companies, and automotive experts, said Mohamed Abo El-Fotouh, the conference’s manager. This is with the participation of government ministers and heads of sectors relevant to the automotive sector, he added.