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Automobile and Vehicle Venture Partnership between AMSIA MOTORS and ERAM International Holding of Saudi Arabia, signed an agreement, ERAM becoming the exclusive agent in the Middle East and North Africa.
China‘s auto industry namely “AMSIA MOTORS“, has signed an agreement for Exclusivity, granting Regional Distributorship to ERAM International Holding of Saudi Arabia for its 3 categories of Chinese auto manufacturer technology European Union Standards, from the vast models of sports utility vehicles (SUV) and small transportation, freight and passengers bus. Paving the way as the major distribution hub, to open branches and provide after-sales service & maintenance of security and provision of spare parts, in the Middle East and North Africa.
The Chief Executive of the Middle East and North Africa distributorship, ERAM International Holding, President & CEO -
told at the news conference held in Jeddah Hilton yesterday, “we shall proceed in the opening of the first branch of the agency during the coming period, through the agency directly and through contracting with distribution agencies working in the automotive sector in Saudi market and a number of Arab countries.
The aim of the exclusive commercial agency in proceeding with the investment is majorly to provision, plus display the Chinese vehicles advancement and technology whilst competing with European quality and technological standards, in light of increasing demands by individuals, the small and medium enterprises in the local market, with now increasing positively, the purchasing power for the said sectors. H.H. Prince Faisal Al Saud added that “the demand exists in the automotive sector in the Saudi market, but is all dependent on the ability to provide a product that serves the quality and confidence, plus the objective to provide affordable prices of cars and spare parts, maintenance centers, which very evident as we see in this sector, improved investment opportunities viable in the local market.
As for the President of AMSIA MOTORS, Mr. Mostafa Z. Ahmad, he highly expressed its specialization in automotive, heavy equipment and agricultural machinery, based on an industrialization strategy, based production cars from its advancement and high quality technological features, and based on the cost of the auto industry in China, which today has become the second largest auto manufacturer after the United States. Furthermore, he said that in the recent years, they have recorded the promising entry of many car companies in the business. The Chinese auto industry in the Saudi market through its new agent is one of the forefronts for its high demand to transport vehicles, and heavy equipment operating in the construction sector, and considering that Chinese industries, economic prices, fuel consumption, especially with the rise in world prices.
He estimated the size of China’s automobile sales in Saudi Arabia during the first half of this year, had established a very prominent profitable market thus, optimistically expected to a record high for its Chinese auto business, manifested remarkably, as it is rising in the level of competition towards the car/vehicles industry. Not to mention the growing positive confidence of consumers for China’s auto industry. He also noted that, shared responsibility must be contained in the agreements, the agent’s outstanding performance, and AMSIA MOTORS’ own manufacturing factories.
He pointed out that the Chinese government has adopted procedures for the application of global standards in the automotive industry, to compete at the global level.
Information
ERAM International Holding – a Saudi owned company , well known for its highly diversified group of business segments, with its vast line-ups of products towards IT Technology, Security, Finance, Investment, Construction, Industrial Sectors. ERAM International Holding will be considered as one of the most important trading partnership of AMSIA MOTORS of China in West Asia, Africa and the eighth-largest partner in the world in partnership with the Gulf countries, in the automobile field.
It has been observed that Beijing and Riyadh shows off “strong partner”, though there are certain limits governing the horizon of the growing relationship between them, particularly since the target estimate for the size of bilateral trade mounting to $ 40 billion for the year 2010 has already been achieved in the year 2008.
The two countries plan to boost bilateral trade to 60 billion dollars by 2015. The time arrived when the volume of Chinese investment in Saudi Arabia, to about $ 690 million, while the volume of Saudi investments in China to $ 600 million. The value of Saudi exports to China seven billion dollars during the past decade, which included the refined oil and plastic materials. Ranged from the value of Chinese exports to the Kingdom during the same period between two and three billion dollars, and included clothing, hardware and mechanical equipment and construction and a small proportion of Chinese vehicles. China’s import volume of crude oil from Saudi Arabia rose by more than 12% over the past year.
Filed under: Arab world, Auto manufacturer, Chinese auto manufacturer, Distributorship, Middle East, Middle East and North Africa, Saudi Company, Uncategorized Tagged: | Amsia Mo, ERAM,Eram Group, ERAM International Holding, H.H. Prince Faisal bin Abdul Rahman Al Saud, Prince Faisal Al Saud
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