Nepal and China have signed the much-awaited Belt and Road Initiative (BRI) Cooperation Framework in Beijing, China on Wednesday. The BRI framework agreement was inked by Foreign Secretary Amrit Bahadur Rai on behalf of Nepal government and Liu Sushe on behalf of National Development and Reform Commission of China on behalf of government of China during the visit of Prime Minister K.P. Oli to China, according to Prime Minister’s secretariat.
The framework agreement is expected to pave the way for the implementation of BRI projects.
Though Nepal and China have signed the Belt and Road Initiative agreement in 2017, not a single project has so far been implemented under the BRI framework. However, details of the BRI cooperation framework agreement have not yet been made public.
Implementation of BRI was one of the major agenda of Prime Minister Oli’s official visit to China.
Meanwhile, Prime Minister Oli ha also called Chinese investors to invest in Nepal.
“We will facilitate the investments for realizing the national aspiration ‘Prosperous Nepal, Happy Nepali’. We are committed to providing investment security,” remarked the Prime Minister addressing a programme jointly organized by Federation of Nepalese Chamber of Commerce and Industries (FNCCI) and China Council for Promotion of International Trade in Beijing on Wednesday. The PM also invited Chinese investors to visit Nepal gifted by its natural beauty and seek investment opportunities.
“The atmosphere is favourable for investment in Nepal which has made its way towards an era of political stability and prosperity,” remarked Prime Minister Oli.
Nepal and China signed the following 9-point agreement during PM Oli’s visit to China
1. Exchange of Letter regarding the construction of Tokha – Chhahari Tunnel road near Kathmandu,
2. Memorandum of Understanding on Nepal – China trade promotion
3. Exchange of certificate of completion renovation of historic nine-story palace situated in Basantapur in Kathmandu
4. Protocol relating to export of thermally processed buffalo meat to China
5. MoU on development construction works,
6. MoU on economic and technical assistance
7. Exchange of Letters relating to assistance in cash
8. MoU on Chinese language education and
9. MoU on cooperation in communication technology between Nepal Television and China Media Group
