Tuesday, February 13, 2018

China ready to suppport Nepal in infra development



Kathmandu, Feb. 12: Chinese Ambassador to Nepal Yu Hong Monday said that China was willing to work with Nepal closely to seize the historical chance to develop a concrete cooperation under the Belt and Road Initiative (BRI) and bring the relations between the two neighbours to a new height. 

“The Belt and Road Initiative (BRI) will bring new opportunities to enhance cooperation between China and Nepal by expanding connectivity and sharing the experience for economic development,” she said at a seminar on ‘Strengthening cooperation to promote the construction of the BRI between Nepal and China’ today.

According to her, lack of infrastructure, especially poor transport infrastructure situation, has become the major constraints for the economic development of Nepal which is hindering the development of agriculture, industry, tourism and other areas. 

She said that China wanted to be a partner in Nepal’s endeavour in the construction of infrastructure such as roads, airports, dry-ports, while facilitation and support from the Nepali side was expected so as to complete the related projects at the earliest. 

Yu urged for strengthening the policy coordination and consolidation of mutual trust, promoting unimpeded trade, deepening the financial integration, strengthening the people-to-people bond for mutual learning and jointly building the road for win-win cooperation. 

“To promote unimpeded trade, China and Nepal are pushing forward the joint feasibility study of China-Nepal Free Trade Agreement, the construction of China-Nepal Cross-Border Economic Cooperation Zones and the negotiation on signing the Bilateral Investment Promotion and Protection Agreement,” she said.

Secretary at the Ministry of Foreign Affairs Shankar Das Bairagi said that connectivity was the core element in Nepal-China relationship. 

President of the Nepal China Chamber of Commerce and Industry, the organiser of the event, Rajesh Kazi Shrestha said that Nepal ought to strengthen the capabilities and amend the law and policies with long-term vision to grab the future opportunities. 

However, foreign experts and businessmen criticised the government for its failure in developing proper infrastructure for the trade with China and delay in implementing the past agreements with the northern neighbour. 

They said that Nepal failed to present bankable business and infrastructure projects to China, and was yet to reap the benefits of trade with the latter. 

“Nepal should move to multi-dependency from its current over-dependency on India. Trade should be diversified as soon as possible,” said Hiranya Lal Shrestha, former ambassador. 

He said that the BRI would herald a new era of development in the region.
Shambhu Ram Simkhada, former Ambassador, also said that Nepal should not miss the opportunity offered by the BRI and need to enhance its capacity in terms of infrastructure and implementation. 

Published in The Rising Nepal daily on 13 February 2018. 

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