Nepal inks MoU with China on Cooperation under OBOR initiative

Nepal inks MoU with China on Cooperation under OBOR initiativeUpdated on : 13-05-2017 06:48 PM
Nepal has signed a Memorandum of Understanding (MOU) with China on Cooperation under One Belt and One Road (OBOR) initiative.

Foreign Secretary of Nepal Shanker Das Bairagi and Ambassador of China to Nepal Yu Hong singed the MoU at Kathmandu on Friday.

Nepal’s Deputy Prime Minister and Minister for Finance Krishna Bahadur Mahara and Foreign Minister Prakash Sharan Mahat were also present on the occasion.

Later talking to media persons, Foreign Minister Mahat said that the MoU is a major step in strengthening Nepal-China relationship.

He also said that road and rail connectivity is very important for Nepal and country requires investment for it.

The MoU seeks to strengthen cooperation in connectivity sectors including transit transport, logistic systems, transport network and related infrastructures development such as railway, road, civil aviation, power grid, information and communication.

The major thrust of the MoU is to promote mutually beneficial cooperation between Nepal and China in various fields including economy, environment, technology and culture.

Similarly, the MoU also aims to promote people-to-people exchanges of different levels between the two countries.


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