Nepal and China Make BRI Cooperation Framework Public
Hamrakura
Published 2024 Dec 11 Wednesday
Kathmandu: The Belt and Road Initiative (BRI) Cooperation Framework, signed between Nepal and China during Prime Minister KP Sharma Oli's visit to China on December 4, has been made public by Nepal’s Ministry of Foreign Affairs.
The document establishes a structured basis for further negotiations on priority projects under the BRI. It emphasizes mutual respect for sovereignty, common interests, and Nepal’s specific development needs while aiming to enhance livelihoods through win-win cooperation.
The Cooperation Framework outlines key principles, including joint consultation for common development, pragmatic cooperation for tangible outcomes, and fostering a favorable policy environment to attract investment.
The Framework aims to deepen economic partnership by injecting momentum into trade, infrastructure, and connectivity projects. It highlights technical and financial support from China, ensuring the feasibility, cost-effectiveness, and value of the prioritized projects. Nepal and China will also seek financial assistance from international multilateral institutions to enhance connectivity and development.
One of the main objectives is the creation of the Trans-Himalayan Multidimensional Connectivity Network, which will include ports, roads, tunnels, railways, aviation infrastructure, telecommunications, and electricity transmission lines.
Some of the major projects listed under the Framework are:
-Tokha-Chhahare Tunnel
-Hilsa-Simikot Road Project
-Kimathanka-Khandbari Road and Bridge
-China-Nepal Cross-Border Railway Project (Nepali section)
-Jilong-Rasuwagadhi-Chilime 220 KV Power Transmission Line
-Madan Bhandari University of Science and Technology
-Kathmandu Scientific Center and Science Museum
-China-Nepal Friendship Industrial Park
-Jhapa Sports and Athletics Complex
These projects aim to boost connectivity and development, while also aligning with Nepal’s development priorities under the BRI.