Cairo: Minister of Foreign Affairs, International Cooperation and Egyptian Expatriates Badr Abdelatty said on Wednesday, June 3, 2026, that localizing automotive manufacturing is a key government priority, highlighting incentives introduced to support the sector during a meeting with the president of Japan's Toyota Tsusho Group. The talks focused on ways to strengthen economic and investment cooperation between Egypt and the Japanese conglomerate.

According to State Information Service Egypt, Abdelatty expressed appreciation for the group's existing cooperation with Egypt, describing Toyota Tsusho as a strategic partner in several sectors of the economy. He stated that Egypt looks forward to expanding the group's role in developing the automotive industry and supporting Japanese manufacturing investments in the country.

The minister reiterated 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 to benefit from the zone's competitive advantages. In this context, he mentioned that Egypt is seeking cooperation with Toyota Tsusho to attract more Japanese companies and facilitate the transfer of technology and industrial expertise.

Abdelatty also expressed hope for deeper cooperation with Toyota Motor Corporation in local vehicle manufacturing, auto components production, and the development of regional supply chains based in Egypt. He reviewed recent economic developments and reforms implemented by the government, which he claimed have strengthened Egypt's competitiveness, supported the green transition, and attracted foreign direct investment.

Furthermore, the minister highlighted the launch of Egypt's National Narrative for Economic Development, which prioritizes private-sector empowerment and investment in renewable energy, infrastructure, and manufacturing, alongside the government's state ownership policy and asset sale program.