CAIRO: Egypt signed a memorandum of understanding with Toyota to establish a harbor for vehicles at the Suez Canal area, state news agency MENA quoted General Authority of Suez Canal Economic Zone Chairman Ahmed Darweesh Thursday.
“The move will make the zone an auto distribution center, which could be a step to establish auto factories after the global economic recession ends,” Darweesh told MENA in statements about the outcome of his visit to Japan.
The signing came days after President Abdel Fatah al Sisi visited Japan last week in which Egypt and Japan issued a joint communiqué under the title “Cooperation towards a surge and new phase in bilateral relations.” to mark Sisi’s visit.
Darweesh added that talks are ongoing with Singapore Port Authority to be the operator of the second quay of containers in Eastern Port Said harbor.
“We hope that Eastern Port Said harbor will be the first one in the world within years,” said Darweesh.