Egyptian Ambassador to Addis Ababa Abu Bakr Hefny has unveiled a number of projects Egypt is implementing in Ethiopia, Al-Ahram Daily website reports.

Hefny revealed that an Egyptian company submitted an offer to establish a mixed-use industrial zone in Addis Ababa worth USD 120 mn.

Egypt and Ethiopia will also sign a continent-wide free trade agreement in March, according to Hefny, who placed the current trade exchange between the two countries at USD 180 mn.

Egypt’s current investments in Ethiopia stand at USD 750 mn, according to Hefny who added that Egypt is one of the top African countries investing in Ethiopia.