In a statement, the Algerian presidency said the meeting was attended by Prime Minister Ayman Ben Abdelrahman, Algerian Minister of Industry Ahmed Zeghdar and Algerian Ambassador to Egypt Hamid Shabira.
Tebboune hailed his fraternal ties with Egyptian President Abdel-Fattah El-Sisi saying he is a man who really loves his country and affirming depth of ties binding Algeria and Egypt.
"Under the leadership of President El-Sisi, Egypt has regained its momentum," he said, wishing the North African country continued progress and prosperity.
The Egyptian premier voiced pride over visiting the Martyrs' Memorial Wednesday, saying that he remembered not only the sacrifices of the Algerian martyrs in the Algerian war of Independence, but also their sacrifices in the 1973 war in Egypt.
He said the Egyptians and Algerians are capable of pursuing the development process, especially in light of the current circumstances, that require rallying efforts in order to attain integration.
Madbouly, meanwhile, hailed the Algerian president's plan to build one million housing units.
He also pointed out to the ongoing development efforts currently taking place in Egypt under the leadership of President El-Sisi.
El-Sisi received his Algerian counterpart Abdelmadjid Tebboune in Egypt in January and said their talks focused on fostering political, economic, and commercial relations.
Earlier Thursday, Madbouly and his Algerian counterpart opened the Egyptian-Algerian businessmen forum.
The Egyptian and Algerian prime ministers also announced that Egypt and Algeria inked 12 agreements and MoUs in the fields of industry, investment and exports.
The agreements and MoUs covered small and micro-sized enterprises, water resources, employment, higher education and scientific research, diplomatic training, environment, youth and sports, and endowments and Islamic affairs.
The accords were signed during the meeting of the eighth round of the joint higher committee in Algiers. The meeting was attended by Egyptian and Algerian ministers and officials, including the ministers of energy, higher education, housing, and trade.