Nepal-China seal agreements on petroleum products survey, investment and promotion

Posted on: August 15, 2017 | views: 245

Nepal and China have sealed three important agreements with long term impact on Nepal's socio-economic development. 

Following on the heels of a high-level dialogue among the top government officials from both the neighbours, agreements were held on three different topics - Economic and Technological Cooperation, China -Aid Oil and Gas Resources Survey Project and Framework Agreement on Promotion of Investment and Economic Cooperation. 

The top officials signed the agreements in the presence of Vice Premier of the State Council of the People's Republic of China, Wang Yang, Deputy Prime Minister, Bijay Kumar Gachhadar, DPM and Foreign Minister, Krishna Bahadur Mahara, and Chinese Ambassador to Nepal, Yu Hong. 

The documents pertaining to the agreements were signed by Finance Secretary Shanta Raj Subedi from Nepal and Vice Minister Yu Jianhua from the Chinese side. 

The agreements straddle a wide range of projects including a feasibility study on natural gas and petroleum products in mountainous, hilly and the plains of Terai including its survey and excavation. The two countries have reached agreements on establishment of hydro power projects and transmission lines and necessary steps for the economic and technological development. 

China has responded positively towards an appeal made by the Nepal Government on immediate resumption of the Araniko highway - an old route connecting the two countries - following an obstruction in the aftermath of the earthquake. China has also agreed in principle to upgrade the highway.   

CPN-MC calls for increase in Chinese investment

The CPN (Maoist Centre) has urged China to increase investment in physical infrastructure development in Nepal.

In a meeting with a high-level delegation led by Vice Premier of the People's Republic of China Wang Yang today, the party pointed out the need for Chinese investment and technology for the development of Nepal.

Talking to reporters following the meeting, the party spokesperson Pampha Bhusal said various dimension of mutual interest and concern were discussed. On the occasion, party Chairperson Pushpa Kamal Dahal 'Prachanda' urged the Chinese side to take the initiative to implement the agreements signed between the two countries during his premiership.

Chairperson Dahal expressed happiness over the significant cooperation received from the Chinese government in the area of physical infrastructure development put forth by the government.

On the occasion, Chairperson Dahal expressed confidence that further cooperation and investment would come from China in coming days, shared Spokesperson Bhusal.

On the occasion, Vice Premier Yang said he is happy over the opportunity to visit Nepal and expressed the readiness of the Chinese government to cooperate for the economic development of Nepal.

He also expressed his confidence that the longstanding friendly relations persisting between the two countries would reach to a new height in the days to come.

The Vice Premier had appreciated the crucial role the Maoist Centre played for the development and prosperity of Nepal signing 'One Belt-One Road' project by Dahal-led government.