Nepal and China Forge Comprehensive BRI Cooperation Framework

Nepal and China have signed the Belt and Road Initiative (BRI) Cooperation Framework, expected to bolster economic ties and enable project implementations. Despite signing the BRI agreement in 2017, no projects have been executed yet. The framework emphasizes connectivity, with amendments concerning 'aid' and 'investment'.

Nepal and China have officially inked the Belt and Road Initiative (BRI) Cooperation Framework, a move anticipated to enhance economic collaboration and facilitate the realization of BRI projects. This agreement marks a significant step during Prime Minister K P Sharma Oli's visit to China, his first since taking office for the fourth time.

High-level discussions were held with Premier Li Qiang, NPC Chairman Zhang Leji, and President Xi Jinping, alongside the formal signing by Foreign Secretary Amrit Bahadur Rai and Liu Sushe from China's National Development and Reform Commission. Although the two nations initially signed the BRI agreement in 2017, project activity under this framework has yet to begin, with details still undisclosed.

The joint statement highlighted a mutual desire to strengthen connectivity through investments in ports, roads, railways, and other critical areas. Differences in terminology regarding 'aid' and 'investment' were negotiated to clarify roles, steering away from previously used 'grant', aiming to transform Nepal from a land-locked to a land-linked country.

(With inputs from agencies.)