Oli praises OBOR MoU signing

Kathmandu, May 30:

Former Prime Minister and CPN-UML chair KP Sharma Oli Tuesday expressed happiness over the signing of the Memorandum of Understanding (MoU) on the China-proposed ‘One Belt One Road (OBOR)’ initiative.

Addressing a conference on ‘OBOR: Enhancing closer connectivity’, organised by International Concern Centre, he said that OBOR would open new avenues for investment, tourism and trade in Nepal and would prove instrumental in attracting foreign investment.

“We can set our development plans and agenda in collaboration with any friendly country without creating any disturbances for other friendly nations. In this age, international relations should contribute to development and economic prosperity of the country,” said Oli.

He said that the Transit and Transport Treaty signed with the northern neighbour had opened the way for Nepal to diversify trade as it now had two ways to reach the sea.

Speaking on a different note, Oli criticised the government for its cold response to the deteriorating image of SAARC – the South Asian Association for Regional Cooperation.

“Nepal is the chair of the regional body, and we are a founder of SAARC. It is in a crisis now. But the government doesn’t have its own say on the matter, instead it reads some other country’s interest,” he stated.

Former Finance Minister Dr. Ram Sharan Mahat said that landlockedness, which was a traditional handicap for the country, would be turned into an opportunity with increased connectivity, trade, investment and tourism.

“OBOR will certainly help us in this regard. Through this platform we can share knowledge among various countries in the network and work together for connectivity and shared prosperity,” he said.

CPN-UML secretary Pradip Gyawali said that as the existing model of globalisation was facing challenges due to trade protectionism, visa restriction and other reasons, the OBOR would rise as an alternative to this.

“We need to materialise the OBOR in Nepal with the development of railways, transmission lines and petroleum pipelines,” he said.

Lin Minwag, professor at the Center for South Asia Studies at the Institute of International Studies, Fudan University, said that the recent OBOR conference in Beijing had contributed to greater understanding of the Belt and Road Initiative and greater collaboration among the member countries.

Chairperson of the ICC, Dr. Anjan Shakya, said that the initiative would address various sectors of development in Nepal.