The automotive industry is booming in the Mediterranean

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Barcelona, 30 September 2015 - The automotive industry in the Mediterranean region is experiencing its momentum, offering to a saturated international automotive market the opportunity for growth on a market of 400 million inhabitants. After its consolidation in the Mediterranean's northern shore, major automotive manufacturing companies’ business is expanding towards the South of the region. Countries like Turkey, Morocco, Algeria and Egypt are witnessing a massive growth in trade volume and annual growth rates in a growing sector in a strategically located region. 

To further understand the new business opportunities for the automotive industry in the Mediterranean, as well as the socioeconomic impact generated, ASCAME (the Association of the Mediterranean Chambers of Commerce and Industry) will organize the I Mediterranean Automotive Summit, which will take place in the framework of the 9th edition of the Mediterranean Week of Economic Leaders the 26th November in Barcelona.

The I Mediterranean Automotive Summit will count on the presence of government representatives and leading manufacturers and distributors in order to analyze the current situation and perspectives of the sector, and highlight the experiences and opportunities found in various countries of the region, where the range of commercial operators and manufacturers is strongly growing. Mediterranean countries like Spain are already pushing strongly up with a growth of 18, 5 % in 2014. But the leading automotive companies are investing in countries like Morocco and Algeria, offering opportunities for growth due to a rapid expansion of domestic demand. A clear example is the strong presence of well-known European firms, as the Renault’s plan in Morocco since 2012 (acknowledged market leader in the country with 227.579 vehicles produced in 2014, destined in 90 % to the export), further enhanced by the installation in the near future of a plant of the French group PSA Peugeot Citroën. For its part, Turkey is a recognized hub of excellence for vehicle manufacturers ( with 1,1 million vehicles produced in 2014, destined in 75 % to the export).

This first edition will analyze the socioeconomic impact of a multiplier industry in the region -generating enterprises and auxiliary services, and thus job and wealth creation-, as well as new possibilities for complementarities and synergies between both shores of the Mediterranean as an added value to attract this industry. This forum offers a unique space to identify the potential business opportunities of this sector, which is emerging as one of the main motor for economic development in the Mediterranean region.

For more information about the forum, please click here.

To download the press release, please click here.