B&R initiative opens door for Nepal

Added On February 14, 2018

In Nepal experts at a seminar in Kathmandu said China's Belt and Road Initiative is creating new opportunities for Nepal to achieve development and economic prosperity.
The seminar, named "Strengthening cooperation to promote the construction of the Belt and Road", was organized on Monday by the Nepal China Chamber of Commerce and Industry .
Government officials and experts expressed their hopes the Belt and Road Initiative would bring opportunities in many fields including trade, connectivity, physical infrastructure development, tourism and investment. 
"BRI is a much broader concept. In my view, it should have three tracks of approach, firstly, the government approach, secondly, business to business approach which includes private sector and thirdly, knowledge base approach meaning sharing ideas through think tanks. On three tracks, we could realize the benefits of this important initiative."
SOUNDBITE(ENGLISH)YU HONG, Chinese Ambassador to Nepal:
"Nepal faces new opportunities of development. We hope that all parties in Nepal will seize the opportunity to realize political stability and economic development through joint efforts. China is willing to work closely with Nepal to seize the historical chance to develop concrete cooperation under the framework of the Belt and Road Initiative and bring China-Nepal relations to a new height."
In May 2017 Nepal and China previously signed a Memorandum of Understanding on Belt and Road Initiative in Kathmandu. 
Experts at the seminar said there is a need of commitment by Nepal for the implementation of the initiative.
They said Nepal government should focus on some basic pre-requisites like connectivity, infrastructure development, reforms in laws, and policy amendments among others. 
"We are hopeful that Nepal could benefit in long run from the BRI and eager to welcome investment in various possible sectors like hydropower, agriculture, trade related infrastructure, tourism, herbs and herbal products, natural resources and service sectors."   
Nearly 100 experts from different countries, including investors, traders and business community members, attended the seminar.