China, Nepal forge stronger development synergy, vowing to deepen BRI cooperation

Newswire

Beijing: China and Nepal have agreed to strengthen the synergy of their development strategies, and pursue deeper and even more concrete high-quality Belt and Road cooperation, according to a joint statement between the two countries issued during Nepali Prime Minister KP Sharma Oli’s visit to China.

The joint statement said that both sides agreed to ensure timely and swift implementation of the agreements signed, consensus reached, and decisions made as well as completion of the programs, projects and activities carried out jointly by the two countries.

According to the National Development and Reform Commission, China and Nepal also signed a framework agreement for advancing Belt and Road Initiative cooperation, Global Times reported.

According to the framework agreement, the two sides will adhere to the principle of extensive consultation, joint contribution and shared benefits, strengthen practical cooperation in key areas such as economy, finance, transportation, logistics, trade, industrial investment and customs.

Both sides also expressed their commitment to strengthening connectivity between the two countries in such areas as ports, roads, railways, aviation, power grids and telecommunication, and to help Nepal transform from a land-locked country to a land-linked country, the joint statement reads.

The joint statement also details various concrete cooperation projects that China will work on with Nepal.

The two sides agreed to jointly advance the fourth phase of the China-aided Araniko Highway maintenance project and the Hilsa-Simikot Road project, implement the second phase of the Kathmandu Ring Road Improvement Project, and welcome the signing of the Letters of Exchange for the Approval of the China-aid Project of Feasibility Study for the Tokha-Chhahare Tunnel.