Phewa Dialogue 2024 concludes

Kathmandu, Dec. 20

A two-day Phewa Dialogue 2024 organised jointly by Tribhuvan University of Nepal and Sichuan University of China concluded on Friday.

According to the Embassy of China in Nepal, speaking on the occasion, the former president of Nepal, Bidya Devi Bhandari, highlighted China’s rapid achievement in poverty alleviation and its remarkable economic success, which offers a replicable model for South Asia and could be a valuable ally in their journey toward development and prosperity.

She also stressed the need to unite for a safe, stable, and prosperous world.

The Phewa Dialogue brought together economists, strategists, development experts, and former government officials from China, South Asia, and Southeast Asia to discuss regional economic development strategy, read the statement by the embassy. It also said that the event aimed to be the pioneer and flagship project of high-level forums in the region.

Chinese Ambassador to Nepal, Chen Song, said that the fifth international industrial transfer was accelerating, and it was necessary for South Asia to seize the 'once-in-20-years' opportunity offered by the times.

"South Asia should promote regional integration and stay committed to an open economy and inclusive regionalism," he said.

Ambassador Chen also expressed hope that the Phewa Dialogue would gather wisdom for policy-makers in the region, and provide a constant source of strength for high-quality economic growth.

Likewise, former Finance Minister and Chief Economic Advisor to Prime Minister KP Sharma Oli, Dr. Yuba Raj Khatiwada, said that the global industrial transfer has led to the rapid rise of emerging economies such as China.

"South Asian countries, with their great human capital and abundant natural resources, could be an ideal destination for foreign investment and industrial transfer, and should prioritise areas like information and communication technology and clean energy, and focus on productivity improvement," he said.

Former Malaysian Minister of Transport Ong Tee Keat introduced ASEAN’s economic development and the significance of China’s Belt and Road Initiative on regional connectivity.

He noted that South Asia remains the least integrated region in the world, and the need to seize the opportunity offered by BRI and the ideal of a Community of Shared Future where least developed economies are given an equal place as equitable stakeholders.

Similarly, Yao Leye, Vice President of Sichuan University, said that the Phewa Dialogue represented yet another milestone in the fruitful partnership between Sichuan University and Tribhuvan University.

Prof. Dr. Keshar Jung Baral, Vice Chancellor of Tribhuvan University, said that Tribhuvan University, as Nepal’s oldest university, has maintained a long-standing cooperative partnership with Sichuan University. He expressed the willingness to further strengthen cooperation, enhance bilateral partnership with China and other South Asian countries and promote regional development.

Published in The Rising Nepal daily on 21 December 2024.