The joint CBE-auto industry committee studying alternatives to the automotive directive will submit a report to bank Governor Tarek Amer next week, Al Borsa said on Monday. Back in April, it was announced that the committee — which has the backing of detractors of the automotive directive — had completed its report, the results of which did not differ all that much from terms of the directive. The Trade Ministry had said earlier this month that it plans to revise some unspecified sections of the directive after the EU’s ambassador to Cairo confirmed that it violates FTAs with the EU. The bill proposes giving local assemblers and manufacturers payouts and tax breaks to protect them against what are perceived as unfair advantages enjoyed by European, Turkish, and Moroccan imports.

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