A French automobile company seeks to establish a car assembly factory in Egypt in the coming period, where the local component will be represented with a high percent, Egyptian Trade and Industry Minister Tareq Qabil said on Sunday.

During a meeting with the deputy head of one of the biggest French automobile manufacturers, Qabil described the automobile industry as "strategic".

Egypt has all potentials to be a center for the automobile industry thanks to its long experience in this field, Qabil said.

The deputy head, meanwhile, said his company seeks to go into partnership with Egyptian companies to manufacture components of the car.

He added that the company dispatched two delegations to Egypt in February and April to review available opportunities in the automobile industry in Egypt.