Kathmandu, Dec. 10: The Framework for Belt and Road Cooperation signed between Nepal and China on December 4 during Prime Minister KP Sharma Oli’s China visit has been made public on Tuesday. The Ministry of Foreign Affairs released the document of the BRI Cooperation Framework.
As stated in the document, the BRI Cooperation Framework was formulated to establish a structured basis to undertake further negotiations on the projects.
“The two sides shall respect each other’s sovereignty and common interests and work together to improve people’s livelihoods through mutually beneficial and win-win cooperation. This Cooperation Framework will accord due consideration to the developmental stages of China and Nepal, with particular emphasis to Nepal’s specific development requirements and priorities,” according to the document released.
On cooperation principle, joint consultation for common development, pragmatic cooperation for meaningful effects and policy environment for increased investment have been highlighted.
Likewise, the two sides have concluded this Cooperation Framework to establish and deepen economic partnership to promote the common development of China and Nepal by injecting new momentum to trade, infrastructure and connectivity cooperation by accelerating the development of priority projects; to realize the mutual interests shared by the two sides to give effect to the MoU by providing a structured guidance to undertake negotiations for the implementation of the prospective projects and to identify and develop projects that fall within the scope of the area of cooperation.
The Chinese side will support Nepal’s development efforts under the framework of jointly building the Belt and Road, by providing technical and financial assistance. The two sides will work to ensure technical support, and aid financing modalities that suit the need of the two sides and of the requirements for sovereign initiated projects. “The two sides will conduct objective analysis of technical, financial, commercial and economic feasibility and ensure value for money for the prioritized projects. The two sides will continue to call upon international multilateral financial development institutions or mechanisms to provide more financial support for promoting connectivity and development,” the Cooperation Framework states.
Similarly, Nepal and China agreed to jointly build the Trans-Himalayan Multidimensional Connectivity Network through the construction of ports, roads including bridges and tunnels, railways, aviation infrastructure, telecommunication projects, electricity transmission lines to upgrade the level of connectivity.
Tokha-Chhahare Tunnel, Hilsa-Simikot Road Project, Kimathanka-Khandbari Road and Kimathanka Bridge and Integrated Check Post Project, Nepali section of the China-Nepal Cross-Border Railway Project, Amargadhi City Hall Project, Jilong-Rasuwagadhi-Chilime 220 KV Cross Border Power Transmission Line, Madan Bhandari University of Science and Technology, Kathmandu Scientific Center and Science Museum, China-Nepal Friendship Industrial Park and Jhapa Sports and Athletics Complex have been listed as the projects to be developed in the BRI Cooperation Framework.
