Nepal and China signed three important agreements with a long term implication. The agreement was signed following completion of Nepal and China’s high-level official meeting in Kathmandu.

 During the meeting, Bijay Kumar Gachhadar, Deputy Prime Minister and Minister for Federal Affairs and Local Development and Wang Yang, Vice-Premier of the State Council of China led the Nepali and Chinese delegation respectively.

Both sides reviewed entire gamut of bilateral relations and cooperation. The  Deputy Prime Minister reiterated Nepal's One China Policy including the principled position of not allowing its territory to be used against the neighbors.

Both sides laid emphasis on the importance of exchanging high-level visits in further strengthening the existing bilateral relations.

While expressing condolences and sympathies to the victims of recent natural disasters in Nepal, the Vice-Premier announced the cash amount of US$ One million as humanitarian assistance from the Chinese Government to the Government of Nepal.  

Appreciating the continuous assistance provided by the Chinese Government for socio-economic development of Nepal, deputy Prime Minister expressed happiness that the bilateral cooperation between the two countries has been expanding in recent time to cover various important aspects.

Both sides held substantive discussions on further enhancing bilateral cooperation in the areas of trade, tourism, investment, infrastructure development, energy, cross-border connectivity and people-to-people relations.

In the context of the Chinese Government’s announcement of 2017 as Nepal Tourism Promotion Year in China, both sides agreed for joint cooperation and collaboration in promoting Nepal’s tourism in China.

Both sides agreed to enhance the functions and facilities at Nepal-China border ports. In the context of the bilateral agreement signed today on the utilization of reconstruction grant of the Chinese Government in the restoration of border bridges and Tatopani port, Nepali side reiterated its request to the Chinese side for early opening of the Tatopani-Zhangmu border port.

The two sides agreed to hold regular meetings of established bilateral mechanisms including the Joint Economic and Trade Committee.

Included in the Nepali delegation were Deputy Prime Minister and Minister for Foreign Affairs Krishna Bahadur Mahara, Ministers of Health; Finance; Culture, Tourism and Civil Aviation; Physical Infrastructure and Transport; Commerce; Ambassador of Nepal to China; Secretaries of different ministries and senior officials of the Ministry of Foreign Affairs of Nepal.

Chinese delegation comprised of Deputy Secretary General of the State Council; Vice Ministers of the National Development and Reform Commission and Ministry of Commerce; Assistant Minister of Foreign Affairs; Chinese Ambassador to Nepal; senior officials of the State Council and Ministry of Foreign Affairs of China.

The meeting was followed by the signing of bilateral agreements on economic cooperation. The Deputy Prime Minister and Minister for Federal Affairs and Local Development Gachhadar and Deputy Prime Minister and Minister for Foreign Affairs  Krishna Bahadur Mahara from the Nepali side and Vice Premier Wang Yang and Ambassador of China to Nepal Yu Hong from the Chinese side witnessed the signing of the agreements.

Dr. Shanta Raj Subedi, Secretary, Ministry of Finance of the Government of Nepal and Yu Jianhua, Vice Minister and Deputy International Trade Representative of the Ministry of Commerce of the People’s Republic of China signed three agreements. The agreements include Agreement on Economic and Technical Cooperation, Framework Agreement on Promotion of Investment and Economic Cooperation  and the Letters of Exchange for Oil and Gas Resources Exploration in Nepal

Deputy Prime Minister Bijay Kumar Gachhadar hosted a luncheon in honor of the Vice-Premier and his delegation.

Earlier this morning, the Vice-Premier and the Deputy Prime Minister and Minister for Foreign Affairs jointly commenced the nine-storied Bashantapur Durbar Restoration Project at Kathmandu Durbar Square. On the occasion, Hon’ble Jeetendra Narayan Dev, Minister for Culture, Tourism and Civil Aviation of Nepal and Yu Jianhua, Vice Minister and Deputy International Trade Representative of Ministry of Commerce of China made brief remarks on behalf of their respective governments.  

Yang arrived in Kathmandu yesterday evening. He was received at the VIP lounge of the Tribhuvan International Airport by Minister for Culture, Tourism and Civil Aviation, the Ambassador of Nepal to China \ Leela Mani Paudyal and senior officials of the Ministry of Foreign Affairs.

 Speaking to the media Secretary Subedi said the agreements reached with China would make significant contributions to the country's socio-economic transformation.

The agreements straddle a wide range of projects including a feasibility study on natural gas and petroleum products in mountainous, hilly and the plains of Terai including its survey and excavation. The two countries have reached agreements on the establishment of hydro power projects and transmission lines and necessary steps for the economic and technological development.

 Though the meeting also discussed matters relating to the construction of physical infrastructure projects such as bridge construction at Timure of Rasuwa and Kerung-Kathmandu-Lumbini Railway, no concrete decision was taken.

The reconstruction work of the historic nine-storey palace at the Hanuman Dhoka Durbar Square has been launched after two years of the massive earthquake in 2015.

Deputy Prime Minister and Minister for Foreign Affairs Krishna Bahadur Mahara and the visiting Vice Premier of the State Council of the People’s Republic of China Wang Yang, jointly, inaugurated the reconstruction of the palace amid a function in the Capital.

Minister of Culture, Tourism and Civil Aviation Jitendra Narayan Dev said that reconstruction of the historic palace at Basantapur and seven-storey palace in Nuwakot were being undertaken by the Chinese government.

On the occasion, China’s Deputy Minister of Commerce and Deputy International Trade Representative expressed joy at the opportunity to reconstruct the historic heritages.

The Chinese government would complete the reconstruction of the nine-storey palace in five years at a cost of Rs 150 million, said Bhesh Narayan Dahal, Director General of Archaeology Department.

The CPN Maoist Centre has urged China to increase investment in physical infrastructure development in Nepal.

In a meeting with a high-level delegation led by Vice Premier of the People’s Republic of China Wang Yang in Kathmandu today, the party pointed out the need for Chinese investment and technology for the development of Nepal, including through the belt and road initiative.