PM Oli hopes to reap benefits from revival of Silk Route

Kathmandu, March 22

The China government’s initiative of ‘Silk Route Economic Belt’ is expected to bring new momentum to the economies of Asia and Europe, through which Nepal would also be able to share benefits, said Prime Minister KP Sharma Oli in China.

Speaking at the programme of Renmin University in Beijing titled ‘Nepal-China Relations in the Context of One Belt-One Road Initiative’ the PM said that the initiative of the ‘One Belt-One Road’ is a principal step to unleash our potentials to travel together into the cooperative sphere of prosperity.

Silk Route Economic Belt is the land-based component that together with the oceanic Maritime Silk Road forms One Belt, One Road, a Chinese government economic development framework for primarily integrating trade and investment in Eurasia.

Nepal used to be an important thoroughfare of the historic commercial Silk route in the history. The prime minister said that ‘the history has again bestowed upon us the responsibility to revitalise that role’.

PM Oli has expressed hope that the Silk Road would be critical to catalyse the convergence of shared interests and weave a tapestry of connectivity that will deepen economic cooperation.

“The markets are open for investment, welcoming for business. And I express my belief that the Belt and Road initiative will relax the obstacles created by geography,” PM said.

He also admired the China government’s effort to lead the country towards higher growth trajectory and earn the status of second largest economy.

“The economic growth and development of China is one of the inspiring success stories of our time,” he said, adding, “The initiative of Belt and Road will propel our prospects to benefit from the unprecedented transformation that is taking place in China, will cumulate the positive spillovers from development of China. Being the immediate neighbour of China, Nepal’s gain from this initiative will be remarkable.”

He further said that the rapid development of Tibet Autonomous Region of China will help to further boost trade and investment between Nepal and China, defeating the every existing barrier.