CAIRO, Mar 24 (Aswat Masriya) - Egypt's President Abdel Fattah al-Sisi met with his Ethiopian counterpart Mulatu Teshome during the former's visit to Addis Ababa on Tuesday.

Sisi arrived in the Ethiopian capital Monday night, shortly after signing a declaration of principles on the Grand Ethiopian Renaissance Dam with Sudanese counterpart Omar al-Bashir and Ethiopian Prime Minister Hailemariam Desalegn in Khartoum.

Sisi and Teshome discussed the details of the declaration, reported the state news agency MENA. They also looked into means of strengthening bilateral ties between the two states in all fields.

The agreement is preliminary and negotiations between the three countries are continuing. 

Egypt's presidential spokesman Alaa Youssef said the declaration "preserves Egypt's water rights and adheres to international law," reported MENA.  

He described the agreement as a "true beginning" to cooperation between Egypt, Sudan and Ethiopia.

The declaration of principles includes ten main points, Youssef said, most important of which is the commitment to the results of studies to be conducted by international experts in regards to the Renaissance dam.

When Ethiopia began the construction of the hydroelectric Grand Ethiopian Renaissance Dam on the Blue Nile in 2011, concerns in Egypt surfaced regarding how the dam will affect its share of Nile water.

For decades, Egypt has been annually receiving 55 billion cubic metres of the river's water, the largest share, as per agreements signed in the past century.

Upon completion, the $4 billion dam will be Africa's largest dam. It aims to generate cheap electricity to countries as far away from the Nile basin as South Africa and Morocco.

Sisi is also scheduled to meet with a group of Egyptian and Ethiopian businessmen later today to look into the establishment of an Egyptian industrial zone in Ethiopia, reported MENA.

The president will conclude his three-day visit by delivering a speech in the Ethiopian parliament on Wednesday.