President Abdel El-Fattah El-Sisi called on Egyptian businessmen to establish their own national industrial zones in Ethiopia during his visit to the country on Tuesday, reported Ahram Arabic news Website.
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," El-Sisi said during the meeting.
Ethiopia is one of the main exporters of meat to Egypt where it is relatively expensive.
El-Sisi stated on Tuesday that Egypt and Ethiopia were conducting talks to overcome the "uncomfortable" status between the two countries. He also announced plans to establish an Egyptian- Ethiopian commission aimed at increasing cooperation both nations.
No 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 El-Sisi is currently on a two day visit to Addis Ababa where he will address the Ethiopian parliament on Wednesday over the controversial Grand Ethiopian Renaissance Dam- "GERD".
On Monday El-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.
Egypt previously had concerns that the Ethiopian dam would negatively affect its share from the Nile's water. However, Ethiopian officials have constantly maintained that the dam won't affect downstream countries.