China vows to support Nepal continuously

Kathmandu, August 28:

China has agreed to support Nepal’s endeavour on the proposed transit point for trade facilitation and promotion of regional trade. At the recently concluded ninth session of Nepal-China inter-governmental economic and trade committee (IGETC) meeting in Beijing, China acknowledged the importance of the transit point, according to the ministry of finance (MoF), today. Both the countries have considered to upgrade the physical facilities at the customs points of Tatopani-Zhangmu and Rasuwagadhi-Jilong for the smooth flow of bilateral and international trade. The Nepali delegation was led by Madhukar SJB Rana, finance minister while the vice-minister of commerce An Min led the Chinese delegation during the meeting.

China has also agreed to adopt positive measures to relieve the pressure of trade deficit against Nepal, noting the issue of increased trade imbalance. The Chinese side also gave nod to consider positively granting zero tariff facility to certain products of Nepali origin while exporting to China.

Both the sides agreed to constitute an operational or core group committee represented by the director general/ joint secretary level officials to address trade and investment related issues. During the meeting, Nepal requested China’s support on various proposals and projects including Baglung-Beni-Jomsom road, rehabilitation and upgradation of Sunkoshi

Hydropower Station and technical and infrastructure development support for urban waste disposal based biomass energy production and distribution in densely populated cities like Kathmandu, Biratnagar and Pokhara. Nepal’s other proposals included construction of King Gyanendra Film City Development Project, some arch bridges and support to north-south highway projects, and establishment of export promotion zones at Panchkhal and Nuwakot. The Chinese delegation positively responded to these proposals, the MoF release adds. During

the IGETC meet, both the sides agreed to accelerate the work on civil servants’ hospital and Syabrubeshi-Rasuwagadhi highway. China has agreed to provide additional support for constructing boundary wall, retaining wall and ground levelling works for Banepa Polytechnic Institute.

The meeting also endorsed the Chinese technical team’s early visit to Nepal for Optical Fibre Cable, Kathmandu Outer Ring Road and the National Ayurveda Research and Training Institute Projects. The Chinese side also agreed to convey to the relevant authorities Nepal’s request to permit Nepali airlines to operate flights to major Chinese cities and to operate charter flights from Nepal to Mansarover in the Tibet Autonomous Region. Both the sides also agreed to convene the 10th meeting of IGETC in Kathmandu at mutually agreeable dates. The eighth meeting of the committee was held in Kathmandu from April 15-17 in 1998. Finance Minister Rana also called on Bo Xilai, Chinese minister of commerce and discussed on different areas of bilateral cooperation between the two countries.