KATHMANDU: Nepal Communist Party (NCP) and the Communist Party of China (CPC) have signed a bilateral Memorandum of Understanding (MoU) amidst a programme in Kathmandu today.

Chief of NCP (NCP)'s Foreign Affairs Department, Madhav Kumar Nepal and Chief of International Liaison Department of CPC, Song Tao signed the MoU regarding the establishment of fraternal relations between the two parties of the neighbouring nations.

NCP (NCP) Co-chair and Prime Minister KP Sharma Oli, along with party Co-chair Pushpa Kamal Dahal, was present on the occasion.

Deputy Chief of NCP (NCP) Department of Foreign Affairs, Bishnu Rijal, said the MoU incorporates five points -- exchanging high-level visits between the two parties, sharing the communist ideology and experiences, giving continuity to the ideological training that is being conducted at present, extending the training to lower levels, and sharing experiences regarding the development models of the two countries.

Rijal said, the MoU should be taken as a renewal of relations between the two parties, especially after the unification of the then CPN-UML and CPN-Maoist Centre. Before the integration, the two parties had their separate friendly relations with CPC.

"It is an attempt to further consolidate the relations existing between the two countries and two parties, and take such relations to a new height," the deputy chief said. "Nepal and NCP (NCP) are committed to the 'one China' policy since past and we are moving ahead as per the same commitment."

The MoU has been signed at a time when Chinese President Xi Jinping is expected to visit Nepal soon. The ruling communist parties of both the countries on Monday organised an ideological training to make initiations to find a common base for prosperity.