Nepal and China's Milestone BRI Agreement: A New Chapter in Economic Cooperation

Nepal and China signed a pivotal agreement under the Belt and Road Initiative (BRI), aiming to enhance economic cooperation. This framework, signed during Prime Minister Oli's visit to China, lays the groundwork for implementing various connectivity projects, though no specific projects have yet been realized since the 2017 BRI agreement.

Nepal and China have signed a historic framework agreement for the Belt and Road Initiative (BRI), signifying an enhanced level of economic cooperation. The pact was sealed during Nepalese Prime Minister K P Sharma Oli's official visit to China, marking his first visit after assuming office for the fourth time.

The signing ceremony was attended by prominent figures from both countries, including China's National Development and Reform Commission representatives. Despite being signed in 2017, the BRI projects under this framework have yet to take off, with details of the new agreement remaining under wraps.

One of the agreement's goals is to transform Nepal from a land-locked to a land-linked country through improvements in infrastructure, such as roads, railways, and communication networks. This initiative may pave the way for significant Chinese investment in Nepal, as President Xi Jinping's leadership continues to support the South Asian nation's development ambitions.

(With inputs from agencies.)