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During his visit to Brazil on Sunday, 10/8/2008, Eng. Rashid Mohamed Rashid, Minister of Trade and Industry, held a meeting with the members of the Brazilian Association of Automotive Producers including the representatives of the major global automotive companies. Rashid presented Egypt's plan to develop the automotive feeding industries in the coming period, affirming that there are promising opportunities to cooperate with the Brazilian automotive companies. Rashid also met with representatives of the major Brazilian companies interested in investing in Egypt.
Rashid said that Egypt endeavors to conclude an initial agreement with Brazil for establishing joint ventures with the aim of exporting to the Arab and African countries, increasing Egyptian exports to the Brazilian market and attracting the major Brazilian companies to invest in Egypt.
ByEgypt can utilize the Brazilian comprehensive development experiment for upgrading all sectors and transferring technology & the know-how, Rashid pointed out. The Brazilian economy is one of the strongest world economies, he said, stressing the importance of bolstering the bilateral economic relations especially in the field of agricultural machinery and equipment manufacturing.
Rashid added that his visit to Brazil comes within the framework of the Egyptian government's policy to expand its relations with the different regional groupings and central countries all over the world, so as to open up new horizons and fields of trade, investment and technology transfer cooperation and to benefit from these countries' comprehensive development experiments.
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