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European side did not object to automotive industry strategy: Bayoumi

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Asia-Pacific automotive industry now a powerful revenue generator for robot manufacturers

Asia-Pacific automotive industry now a powerful revenue generator for robot manufacturers

– The automotive industryaccounted for 49.3 percent of the global demand for robots in 2015, spurred by the rising digitization of manufacturing plants and pervasiveness of Industrial Internet of Things (IIoT).Even original equipment manufacturers (OEMs) and subcontractors of small and medium-sized enterprises (SMEs) are acknowledging the need for robots in aiding virtual and digital factories, flexible manufacturing, 3D printing and open-source, low-volume manufacturing.Asia-Pacific is expected to register the highest robot adoption rates in the automotive sector by 2025.
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European side did not object to automotive industry strategy: Bayoumi

European side did not object to automotive industry strategy: Bayoumi

– A number of car experts expect the approval of the automotive industrystrategy to cause conflict with the European side.They believe the strategy disturbs the application of the EU-Egypt Association Agreement for free trade, as the strategy aims to impose a new tax on the automotive sector in exchange for reducing custom fees.Ambassador Gamal Bayoumi, secretary general of the Egyptian-European partnership agreement, said that the European side had not expressed objection to the state’s efforts to issue a law to develop the car manufacturing industryuntil now.
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