(L to R) - Prime Minister MostafaMadbouly shaking hands with Ethiopian counterpart Abiy Ahmed on the sidelines of the 11th Extraordinary Session of the Assembly of the African Union (AU) on Nov. 18, 2018 – Egypt Today/Solieman Al-Otaifi
CAIRO – 22 November 2018: Prime Minister Mostafa Madbouli said that he met with his Ethiopian and Algerian counterparts on the sidelines of the 11th Extraordinary Session of the Assembly of the African Union (AU).
Madbouli said that his meeting with Algerian Prime Minister Ahmed Ouyahia touched on a number of regional and international issues of common concern. The meeting also stressed Algeria's full support for Egypt during its presidency of the African Union.
The two officials also discussed the importance of working to advance and strengthen the relations between the two brotherly countries in all fields, especially the economic field, as the volume of Egyptian investments in Algeria amounted to $3.6 billion, according to Madbouli.
Concerning his meeting with Ethiopian Prime Minister Abiy Ahmed, Madbouli said they discussed means of supporting and developing bilateral relations between the two countries to reach a level of partnership in all fields. The two officials also agreed on the importance of working to meet the hopes and aspirations of the Egyptian and Ethiopian peoples, and to preserve the two countries’ water-related interests.
The meeting also discussed enabling Egyptian experts to contribute to the Ethiopian plans in the fields of urban planning, and development of roads. The two officials also agreed on the importance of working to activate the tripartite investment fund, and organizing a meeting soon in Cairo between the governors of the central banks in the two states.
High-level delegations from Egypt, Sudan and Ethiopia met on July 3-4 in Cairo's Central Bank headquarters to discuss establishing a joint fund for investment and developmental projects related to the Grand Ethiopian Renaissance Dam.
The talks addressed all topics concerning establishing the fund, its goals, body, administration and budget.
The joint developmental fund will establish projects related to the Grand Ethiopian Renaissance Dam (GERD), according to Sudanese Foreign Minister Osama Faisal.
Activating the fund will positively impact the relation between Egypt and Ethiopia, and will enhance mutual cooperation between the three states, said Khaled Abu Zeid, director of the water resources program in the Center for Environment and Development for the Arab Region and Europe (CEDARE).
Abu Zeid added that the fund will also have a positive impact on the path of negotiations around the Ethiopian Renaissance Dam, which is under construction.