Kathmandu, June 20
Minister for Foreign Affairs Pradeep Kumar Gyawali said on
Thursday that Nepal expected capital investment and transfer of modern
technology under the Belt and Road Initiative (BRI) projects.
"Our development efforts are constrained by inadequate
financial resources and the BRI can be a remedy to it. We hope to get
benefitted from the BRI investment, cooperation and exchanges," he said
while addressing the fourth international conference on 'Belt and road for
development and prosperity of South Asia' in the Capital.
He said that the BRI had become a fact of the present time
due to its inherent policy of cooperation, collaboration and connectivity in
diverse sectors.
Minister Gyawali also said that it was a common aspiration
for sustainable peace and prosperity.
"However, economic integration in the South Asia and
with China is weak, so there is a need of massive expansion of development
cooperation and collaboration in trade, investment, tourism and culture,"
he stated.
He pointed towards the need of mega infrastructure to
increase connectivity to facilitate the movement of people and goods.
About 50 countries and 29 international agencies are
connected with the BRI.
Chinese Ambassador to Nepal Hou Yanqi said that the BRI
aimed at delivering sustainable development results.
She appreciated Nepal for its support to and cooperation in
the initiative.
"BRI has attracted more partners, businesses and
friends from which all the member countries and organisations can get
benefit," she said. "China has become Nepal's largest source of the
Foreign Direct Investment (FDI) and tourists which is having positive impact on
economic growth."
She presented the China-Pakistan Economic Corridor (CPEC),
cross-sea bridge in the Maldives, Hambantota port in Sri Lanka and
China-Afghanistan cooperation as the successful BRI projects and said they were
benefitting both the partner countries.
Ambassador Hou also expressed hope that sooner or later
India would also join the initiative.
"BRI is open, inclusive and transparent and does not
include any hidden geopolitical agenda," she said.
Former Vice-Chairman of the National Planning Commission Dr.
Shankar Prasad Sharma said that Nepal had given priority to infrastructure
development and urged China to extend support in developing key infrastructure.
"Energy, trade, technology transfer, tourism and
connectivity are critical for economic development of the country. But in case
of Nepal security for energy and trade is critical," he said.
He warned that it would be very challenging for Nepal to get
benefits from the business as usual scenario as the export from Nepal to China
has been declining since the last couple of years while the import is going up
significantly.
Dr. Sharma also said that the maintenance of infrastructure
projects was also equally important as their development.
Member of Parliament and President of Jatiya Samajtantrik
Dal of Bangladesh Hasanul Haq Inu said that greater regional cooperation was
needed to implement BRI in the South Asia.
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