Kathmandu, July 8: Nepal and China have agreed to strengthen their economic partnership and make bilateral trade and investment more effective and result-oriented.
The agreement was reached during a meeting at Singha Durbar on Tuesday between Minister for Industry, Commerce and Supplies Gauri Kumari Yadav and a high-level Chinese delegation led by Yan Dong, Vice Minister of Commerce of China.
During the meeting, Minister Yadav said the government is committed to expanding the long-standing friendly relationship between Nepal and China through stronger economic cooperation.
She stressed the need to deepen collaboration in trade, industrial development, infrastructure construction, cross-border connectivity, and supply chain strengthening.
Yadav also briefed the delegation on Nepal’s recent legal and policy reforms aimed at improving the investment climate. She expressed confidence that Chinese investment in Nepal’s productive sectors would continue to grow.
Vice Minister Yan said China remains committed to taking bilateral ties to a higher level. He said Beijing is positive about supporting the construction and reconstruction of trade infrastructure at the Tatopani and Rasuwagadhi border points.
He also pledged to facilitate the participation of Nepali entrepreneurs in trade fairs and expos held in China.
Yan proposed forming a joint team to study the commercial potential of Nepali export products, particularly tea and medicinal herbs, in the Chinese market.
He said China’s experience since adopting its open economic policy in 1978 and successfully attracting foreign investment could offer useful lessons for Nepal.
Noting that China is Nepal’s largest source of foreign direct investment, Yan suggested strengthening Nepal’s one-stop service system to provide Chinese investors with a more efficient and transparent investment process. He said such a mechanism would help attract significantly more Chinese investment into Nepal.
People’s News Monitoring Service
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