Foreign Minister Shrestha holds meeting with Chinese counterpart Wang Yi

Published On: March 27, 2024 11:30 AM NPT By: Republica | @RepublicaNepal

KATHMANDU, March 26: Deputy Prime Minister and Foreign Minister Narayan Kaji Shrestha, who is on an official visit to China, held a meeting with Foreign Minister of China, Wang Yi, on Tuesday.

During the meeting, both the leaders assessed the state of bilateral relations and expressed commitment to work together to further elevate the ties between the two countries, the Ministry of Foreign Affairs said. The two leaders also emphasized on swift implementation of projects.

Similarly, Speaking at the Pre-Investment Summit organized by the Embassy of Nepal in Beijing on Tuesday, Shrestha said the implementation of the Nepal-China Transit Transport Agreement and its Protocol was an advantage for the Chinese investors for a third country export via Chinese ports.

He said Nepal-China relationship was upgraded to a strategic partnership of cooperation featuring ever-lasting friendship for development and cooperation during the visit of Chinese President Xi Jinping in 2019. "Noteworthy progress has been made since then to consolidate these ties."

DPM Shrestha said Nepal has focused on reforming policies, institutions, and procedures in pursuit of establishing a business-friendly environment and attracting foreign investment by taking key decisions, including legal, institutional, and procedural reforms at the onset of the Summit.

Terming Nepal as an extremely alluring investment destination for Chinese business leaders, he said the government has prioritized hydroelectricity, tourism, infrastructure, ICT, and the manufacturing industry for investment.

Reiterating that Nepal attaches top priority to its relations with China, he called for an enhanced economic partnership for mutual benefits adding that the two nations' close cultural affinity and geographical proximity provide room for win-win cooperation."A forward-looking foreign investment policy has been implemented. Several investment-related legislative instruments have been enacted," according to DPM Shrestha.

"We are fully dedicated to implementing additional policy, regulatory, and procedural reforms. Our next cycle of reforms includes Intellectual Property Rights, among others," he shared.

(RSS)