Nepal | August 03, 2020

‘Investment required in infrastructure’

Prime minister emphasises developing Nepal as transit corridor for regional trade

Himalayan News Service
Share Now:

Kathmandu, November 9

Prime Minister Pushpa Kamal Dahal has urged for large scale investment in infrastructure development of the country to develop Nepal as a transit corridor for regional trade.

Addressing the one-day seminar on ‘Trans-Himalayan Cooperation Beyond Trilateral Discourses’ which was jointly organised by The Development Institute (TDI) and Nepal Bankers’ Association (NBA), today, Dahal said that priority should be given to the construction of multi-lane highways, railways and other infrastructure connecting India and China so that Nepal can serve as an important transit corridor.

“A huge amount of capital needs to be injected to build such infrastructure. Countries in the trans-Himalayan area, especially India and China, can cooperate to invest in such infrastructure projects,” Dahal said.

Informing that connectivity lies at the heart of trans-Himalayan cooperation, PM Dahal opined that collective effort to develop trans-Himalayan infrastructure would open unprecedented opportunities of economic prosperity in the trans-Himalayan region.

“The Himalayas are no longer barriers. Instead, they can serve Nepal as important bridges to connect two emerging economic giants of the north and the south,” added Dahal.

Furthermore, Dahal stated that today’s discussion would help policymakers highlight and appreciate the importance of greater trans-Himalayan cooperation for Nepal and neighbouring South Asian countries.

Informing that the bilateral trade between India and China had reached $83 billion in 2015 and China has become one of India’s largest trading partner, TDI Chairman Bharat Mohan Adhikari said that connectivity through Nepal will facilitate potential trade between the two nations.

“If we are able to tap into a small per cent of this trade volume by developing effective connectivity, Nepal can benefit a lot,” Adhikari said.

An enhanced trilateral relationship between Nepal, India and China, according to Adhikari, will not only benefit the three countries, it will also open a new arena to the entire South Asian region. However, he said that a detailed discussion on connectivity for trilateral economic cooperation is required at the civil society level followed by effective initiative from the government.

Former finance minister Ram Sharan Mahat said that global and regional prosperity is possible only through interconnection of markets, and thus, markets of trans-Himalayan region should be interconnected through timely development of connectivity and other infrastructure. As per Mahat, Nepal should make an effort to develop itself as a vibrant tourism hub in South Asia by promoting the country’s tourism, agro industry and other diversities.

On the occasion, Prof Dai Yonghang of Sichuan University said that Nepal can play a decisive role in bridging India and China to ensure mutual benefit for all three nations.

Executive Director of The Development Institute Lekhnath Paudel highlighted the prospect of trans-Himalayan cooperation and stated that it would help promote development and reduce poverty in countries across the Himalayas.

While presenting his paper, Nihar Nayak, research fellow at the Institute of Defence Studies and Analyses, India, said the Indian government was still suspicious about the idea of trilateral cooperation and it still wanted to maintain ‘status-quo’.

A version of this article appears in print on November 10, 2016 of The Himalayan Times.

Follow The Himalayan Times on Twitter and Facebook

Recommended Stories:

More from The Himalayan Times:

Bagmati River erodes barrier in Rautahat

RAUTAHAT: The Bagmati River has eroded at least 50 metres between the spur constructed to train the flow of the river and prevent erosion in Gangapipar and Matsari of Durga Bhagwati Rural Municipality. This year during monsoon, Bagmati River changed its direction and caused heavy damages to the b Read More...

Nepal’s COVID-19 count reaches 20,332 with 246 new cases detected on Sunday

KATHMANDU: The Ministry of Health and Population has recorded 246 new cases of the coronavirus infection on Sunday, taking the nationwide count to 20,332. The new infections were confirmed after testing 8,861 specimens through PCR method across the nation in the last 24 hours. As of today, 391,27 Read More...

In pictures: Hotels getting ready to resume services

KATHMANDU A worker wearing a personal protective suit prepares a hotel room before the reopening of the hotel, at Hotel Crown Plaza in Naxal, Kathmandu, Nepal on Sunday, August 2, 2020. Read More...

Metropolitan Traffic Police in Kathmandu office sealed, all staff quarantined

KATHMANDU: Metropolitan Traffic Police Office in the capital has been sealed while all staff have been placed in quarantine, today. The step was taken as a precautionary measure to contain the spread of Covid-19 after two traffic police personnel tested positive for the disease. Regular services Read More...

Indian police crackdown on illegal liquor suppliers after 86 die

NEW DELHI: Indian police raided rural hamlets and made arrests to break up a bootlegging cartel on Sunday, after 86 people died from consuming illegally-produced alcohol this week in the northwestern state of Punjab, officials said. “We have conducted raids at more than 30 places today and we h Read More...

Suspected Boko Haram militants kill at least 13 in Cameroon

DOUALA: Suspected militants from Islamist group Boko Haram killed at least 13 people and wounded eight others in a grenade attack in northern Cameroon on Sunday, a security source and a local official told Reuters. The unidentified assailants threw a grenade into a group of people inside a camp f Read More...

Bihar cops unable to locate Rhea Chakraborty, tell her to stop playing hide-and-seek if she's innocent

KATHMANDU: Bihar Police has so far not been able to locate Bollywood actress Rhea Chakraborty for investigation in relation to the Sushant Singh Rajput alleged suicide case, and it has urged her to stop playing hide-and-seek if she is innocent. According to IANS, Director General of Bihar Police Read More...

Nepal COVID-19 Update: 246 new infections, 111 recovered, one death reported today

KATHMANDU: Nepal’s Health Ministry, in its regular press briefing, shared the latest updates on the coronavirus contagion from across the country, and government’s response to the health crisis. As of today, 391,270 tests through Polymerase Chain Reaction (PCR) method have been carried out, Read More...