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Nepal, China sign agreements on post-quake reconstruction, mining, investment

Nepal’s Finance Secretary Shanta Raj Subedi and China’s Commerce Vice-Minister Yu Jianhua sign various agreements at a ceremony in Kathmandu on Tuesday, August 15, 2017.

Kathmandu, August 15

Nepal and China on Tuesday have signed three agreements on bilateral cooperation.

The agreements have been made on the occasion of Nepal visit of Chinese Vice-Premier Wang Yang, who landed in Kathmandu on Monday.

The first agreement is about post-earthquake improvement of Araniko Highway and construction of a bridge in Timure of Rasuwa district. China will provide RMB 1 billion for these projects, which are considered vital for bilateral trade.

Likewise, another agreement has been signed about carrying out a feasibility study on exploration of petroleum products and other minerals in various parts of the country. China will invest Rs 2.25 billion in this project.

The third agreement is about promoting Chinese investment in Nepal. According to this pact, China will invest in modernisation of agriculture and infrastructural development including roads, tunnels an electricity transmission lines.

Nepal’s Finance Secretary Shanta Raj Subedi and China’s Commerce Vice-Minister Yu Jianhua signed the agreements at a ceremony in Kathmandu today witnessed by Deputy Prime Ministers Bijay Kumar Gachhadar and Krishna Bahadur Mahara, and Chinese Vice-Premier Wang Yang.

Meanwhile, the Nepali delegation requested China to resume trade activities via Tatopani border point in Sindhupalchok district. After the 2015 earthquake, trade activities via this point have been halted owing to damages in roads and other infrastructures.

In response, China said it was positive, according to a member of the Nepali team.

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