The Indonesian Ministry of Trade and the Indonesian Embassy in Cairo inaugurated the 11th outlet for Indonesian tires and wheels, owned by Ashrafco, on Sunday, 9 June 2024, in Madinaty District, New Cairo, Egypt. This initiative aims to enhance Indonesian exports, especially of tires and wheels, to the Egyptian market. Indonesian Ambassador to Egypt Lutfi Rauf expressed hope that this new outlet would significantly boost Indonesian exports to Egypt, particularly for vehicle tires and wheels. "We look forward to continued collaboration with Ashrafco to promote Indonesia's top products in Egypt," he stated. Trade Attaché in Cairo, M. Syahran Bhakti, noted that the Madinaty District is strategically located, just 25 km from Egypt's new administrative capital. Ashrafco, an Egyptian company, serves as the sole agent for three major Indonesian companies: PT Elang Perdana Tyre Industry (Accelera tires), PT Bangun Sarana Alloy, and PT Prima Alloy Universal (vehicle wheels). Syahran commended Ashrafco for its cooperation and dedication since 1986. "Ashrafco's success is built on trust with Indonesian manufacturers, strengthening Indonesia-Egypt trade relations," he said.
Ashrafco owners Khaled Hammad and Ashraf Hammad Shehata attended the inauguration and emphasized their commitment to exceptional customer service. Khaled Hammad mentioned that Indonesian tires and wheels distributed by Ashrafco target the upper-middle class, with special services like door-to-door delivery and online services. In 2024, Ashrafco imported over USD 5 million worth of Indonesian tires and wheels. Khaled is optimistic about the competitiveness of Indonesian products in Egypt. Syahran invited Egyptian automotive business players to the 39th Trade Expo Indonesia (TEI) from 9-12 October 2024 in Tangerang. According to the Indonesian Ministry of Trade, the trade balance between Indonesia and Egypt recorded a surplus of USD 342.6 million from January to April 2024. Indonesian exports to Egypt were valued at USD 408.5 million, while imports were USD 65.9 million. Egypt's Central Agency for Public Mobilization and Statistics (CAPMAS) reported that Indonesian vehicle tire exports (HS code 4011) to Egypt contributed USD 13.48 million in 2023, an 11.75% increase from 2022. Major competitors in the Egyptian tire market include China, Thailand, and Turkey. Indonesian wheel exports (HS code 8708) reached USD 2.08 million in 2023, a 463% increase from 2022. Competitors include China, Turkey, and Italy.
