China urges Nepal to support its OBOR initiative

Kathmandu, Feb. 28: China has urged Nepal to support its One Belt One Road (OBOR) initiative – a China-proposed strategy for regional connectivity for enhanced trade and prosperity.

Addressing the 14^th Annual General Assembly of Nepal China Chamber of Commerce and Industry (NCCCI), Chinese ambassador to Nepal Yu Hong said that the initiative was a way for win-win cooperation that promotes common development and prosperity as well as peace and friendship by strengthening exchanges and cooperation.

"The Belt and Road Initiative takes policy coordination, facilitates connectivity, unimpeded trade, financial integration and people-to-people bonds as its five major cooperation priorities," she said.

According to Hong, with the attention of the two governments and support from business community and people, Nepal will seize all opportunities from the initiative and gain benefits.

Chinese President Xi Jingping had raised the Belt and Road Initiative in 2013.

According to Hong, about 100 countries have expressed their intention to support and jointly contribute to the initiative and more than 40 countries and international organisations have signed cooperation agreement with China for jointly building the Belt and Road.

She said that the road transportation between the two countries would be improved gradually.

"The road connectivity between Nepal and China is frequently challenged by natural disasters like earthquake and landslides. It is causing inconvenience of trade and personal exchanges. But, such challenges will be overcome with the joint efforts of both governments soon," she said.

She appreciated the NCCCI for its role in promoting the cooperation and exchanges on economic, trade and investment between the two countries.

"NCCCI actively established good relations and signed MoU with China Council for the Promotion of International Trade and its local branches, facilitated Nepalese enterprises to take part in different exhibitions in China in order to promote and boos the export of Nepalese products to China," said the ambassador.

Addressing the AGM, Deputy Prime Minister and Finance Minister Krishna Bahadur Mahara said that the government would work to improve trade between the two neighbours.

He expressed his confidence that the northern neighbour would continue to support Nepal in its development endeavour and international trade.

NCCCI president Rajesh Kazi Shrestha said that the bilateral chamber was dedicated itself to trade enhancement between the two countries and attracting tourists and investment to Nepal.