Nepal and China have taken their friendship to new heights! During a recent visit to China by Nepali Prime Minister KP Sharma Oli, the two nations signed landmark agreements that promise to bring prosperity across the Himalayas.
Building Bridges Across Mountains
Prime Minister Oli met with Chinese President Xi Jinping, where they committed to strengthening their partnership. With 2024 marking the 70th anniversary of their diplomatic relations, both countries are eager to work together for mutual development and prosperity.
Exciting Projects Ahead
Nine agreements were signed, focusing on areas like infrastructure, trade, and cultural exchanges. China is set to provide financial assistance to Nepal, including $20 million in budgetary support and $41 million for economic and technical projects. One of the standout projects is the Pokhara International Airport, a symbol of their collaboration under the Belt and Road Initiative (BRI).
Boosting Tourism and Connectivity
Tourism is vital for Nepal, accounting for nearly 8% of its GDP and supporting over 1.2 million jobs. China’s support in promoting “Visit Nepal Year in China” for 2025 aims to attract 2 million foreign visitors, boosting the tourism industry and fostering closer ties between people.
Green Energy and Trade Opportunities
Nepal has immense potential in hydroelectric power. Collaborating with China on green energy projects will help Nepal achieve energy self-sufficiency and work towards its goal of net-zero emissions by 2045. Additionally, starting December 1, China will grant zero-tariff treatment to all Nepalese exports, opening doors for products like high-altitude tea, organic foods, and more.
Looking Forward Together
The strengthened partnership doesn’t target any third parties but focuses on Nepal’s national development. By working closely with China, Nepal aims to transform from a landlocked to a land-linked country, promoting sustainable economic growth and regional prosperity.
Reference(s):
cgtn.com
