KATHMANDU, Dec 25: Visiting high-level government team of Nepal led by Deputy Prime Minister and Minister for Foreign Affairs Kamal Thapa on Friday signed an eight-point deal with China. The deal was inked between Minister Thapa and Chinese Foreign Minister Wang Yi.
A joint press statement issued after the agreement between the two sides states that the deal includes provision of long-term fuel trade between Nepal and China. Similarly, China has also agreed to help Nepal settle the fuel crisis in both short-term and long-term basis. According to the statement, China has urged respective companies of both the countries to jointly examine the matters relating to price, transportation and other logistics.
The other provisions of the agreement include construction of dry ports at both sides and management of custom points at the border for the promotion of bilateral trade between the two nations. Likewise, both the countries have also agreed to further study the Bilateral Investment Promotion and Protection Agreement (BIPPA) actively.
Agreeing to accelerate works at highways connecting the two countries to promote bilateral trade, China also lifted the precaution notice issued to its citizens to visit Nepal after the April 25 earthquake. The Chinese side believed that the move will increase the flow of Chinese tourists in Nepal, thereby promoting tourism of the landlocked country.
The bilateral talks have also agreed upon to arrange official visits of prime ministers of both countries in appropriate time.
“The two sides have agreed to expand and consolidate bilateral cooperation focusing mainly on trade, transit, investment, energy, tourism and infrastructure,” a separate press statement issued by Ministry of Foreign Affairs (MoFA), Nepal reads. According to the MoFA, China has also agreed to give priority to the reopening of Tatopani-Zhangmu border point, which has been disrupted by the earthquake.
“China has also announced its willingness to support Nepal's industrialization process through reconstruction,” added the MoFA statement.
Amid persisting strain in Nepal-India trade relationship following the India-imposed supply blockade at major routes that link the landlocked country with India, a ten-member high-level government team led by DPM Thapa had left for China on Wednesday to hold government to government (G2G) talks with the northern neighbor.
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