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China proposes Nepal to join its Silk Road initiative, aimed at regional prosperity

China Has Asked Nepal On Wednesday Asked To Join Its Ambitious Silk Road Initiative, Which, It Claims, Is Aimed At Regional Connectivity.

PTI | Updated on: 01 Mar 2017, 10:43:56 AM
China's Silk Route


China has asked Nepal on Wednesday asked to join its ambitious Silk Road initiative, which, it claims, is aimed at regional connectivity.

China made the request during the 14th annual general meeting of Nepal-China Chamber of Commerce and Industries in Kathmandu.

More than 100 countries have shown interest in the Silk Road initiative and signed Memorandums of Understanding (MoU) with 40 countries, Chinese officials said.

Chinese Ambassador to Nepal, Yu Wong, asked Nepal to assist in forwarding the Silk Road initiative. He said, “it will help in regional prosperity and connectivity.”

Nepal’s Deputy Prime Minister and Finance Minister Krishna Bahadur Mahara said his country would expand trade ties with China keeping the geopolitical sensitivity in view.

“I assure you that Nepal will make further decision to augment trade relations with China,” he said, but added that exports must be increased to reduce trade losses.

He also thanked China for its assistance to Nepal’s infrastructure development.

China has assisted Nepal in the areas of Hydropower, Aviation, Construction and Transmission line, Yu said, assuring that such assistance will continue in future.

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First Published : 01 Mar 2017, 10:16:00 AM