Nepal, China sign trade and transit MoUs and agreements

Friday, June 22nd, 2018 | | Politics

Prime Minister KP Sharma Oli held delegation-level talks with Premier of the State Council of the People’s Republic of China Li Keqiang at the Great Hall of the People in Beijing on Thursday.

Following the meeting, Nepal and China signed a Memorandum of Understanding (MoU) on Cooperation in Railway Projects. A total of 14 different agreements were signed including on railway construction in Nepal based on the trade and transit agreement held between Nepal and China three years ago.

Minister for Physical Infrastructure and Transport Raghubir Mahaseth and his Chinese counterpart Li Xiaopeng signed the MoU. Similarly, Mahaseth and Li signed a protocol concerning the utilization of highways in Tibet Autonomous Region of China by Nepal for cargo transport.

A MoU on investment and cooperation on production capacity between the National Development and Reforms Commission of China and National Planning Commission of Nepal was also signed on the occasion. Finance Secretary Rajan Khanal and Vice Chairman of National Development and Reform Commission of China Zhang Yong signed the MoU.

Likewise, an agreement between the two governments was signed on the reconstruction of the Friendship Bridge in Tatopani of Sindhupalchowk and Rasuwagadhi of Rasuwa. Secretary at the Ministry of Foreign Affairs Shanker Das Bairagi and Vice Minister of Ministry of Foreign Affairs of China Kong Xuanyou signed the papers to the issues.

Similarly, MoU between the two countries was signed on the establishment of a mechanism for facilitation on the implementation of China-Nepal Cooperation Programmes and Projects in Nepal.