Nepal and China have reached an eight-point understanding to strengthen bilateral trade and diplomatic ties between the two countries.
The understanding was agreed upon between Nepal’s Foreign Affairs Minister Kamal Thapa and China’s Foreign Minister Wang Yi in Beijing on Friday.
Thapa, accompanied by Law Minister Agni Kharel and top Nepali government officials, is now on a week-long China visit on the occasion of the 60th anniversary of the official beginning of diplomatic relations between the two countries.
Nepal and China have reached an understanding to promote long-term trade of petroleum products between the two counties.
A statement issued by Nepal’s Ministry of Foreign Affairs reads: “China has expressed its willingness to seriously examine Nepal’s proposal for import of petroleum products from China and has advised the respective companies of the two countries to jointly examine the matters relating to price, transportation and other logistics.”
The statement adds: “As a friendly gesture, China will make available additional fuel to northern areas of Nepal bordering Tibet Autonomous Region,”
After India cut off supply of petroleum products to the land-locked Himalayan nation from September, Nepal is reeling under a crippling fuel crisis. Although India recently welcomed Nepal’s decision to amend the new constitution and form an all-party committee to revise federal boundaries, supply of fuel and other essential commodities has not eased much.
Nepalis are still struggling to buy a cylinder of cooking gas and a few litres of fuel. After India’s blockade, Nepal has decided to import 33 per cent of fuel required for it from China.
Chinese authorities also told a press conference in Beijing on Friday that Chinese tourists no longer need to take caution to visit Nepal. After the 25 April earthquake, China had put a notice on the website of its consular service asking Chinese tourists to ‘remain alert while visiting Nepal’. That notice has been deleted now.
Eight points of understanding
– Prime Minster KP Oli is invited to visit China next year.
-Post-earthquake reconstruction will be accelerated, and both Araniko Highway and Syafru-Rasuwagadhi Highway will be repaired.
-Trade and investment cooperation will be strengthened.
-Long-term oil and gas trade between the two countries will be explored.
-Existing ports will be repaired and rehabilitated.
-The process to sign a Transit Transportation Agreement will be accelerated.
-A feasibility study will be conducted on Free Trade Agreement.
-Cultural exchanges will be furthered.Go back to previous page