Ethiopia approves Egyptian Industrial Zone Project

Ethiopia approves to allocate 2 million metres in favour of an Egyptian industrial zone in its lands, chairman of the Egyptian Junior Business Association (EJB) Hossam Farid announced on Tuesday.

The agreement was made during Egypt’s President Abdel Fattah al-Sisi’s visit to Ethiopia and meeting with Ethiopian Prime Minister Hailemariam Desalegan.

President Sisi called on Egyptian businessmen to establish their own national industrial zones in Ethiopia during his two-day visit to the country on Tuesday.

During a meeting with Egyptian businessman in Addis Ababa, the Egyptian president also revealed that he is looking forward to linking both countries with a new highway and sea route to facilitate the transport of products and lower the prices of certain goods.

“We hope this will lower the price of meat in Egypt,” Sisi said during the meeting.

Ethiopia is one of the main exporters of meat to Egypt where it is relatively expensive.

Sisi also announced plans to establish an Egyptian- Ethiopian commission aimed at increasing cooperation both nations.

Not less than 40 Egyptian companies were given the permission to invest and begin projects in Ethiopia.

The meeting with Egyptian businessmen in Ethiopia was attended by Ethiopian Prime Minister Hailemariam Desalegan.

Egypt’s President Abdel Fattah al-Sisi has paid a two-day visit to Addis Ababa where he has addressed the Ethiopian parliament today, Wednesday over the controversial Grand Ethiopian Renaissance Dam- “GERD”.

On Monday Sisi signed a declaration of principles agreement on “GERD” specifically related to the countries respective share of Nile water, along with Sudanese President Omar Al-Bashir and Ethiopian Prime Minister Hailemariam Desalgan in Khartoum, Sudan.