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Nepal PM KP Oli visits China today: Several agreements to see daylight

By Shubham
|

The visit by Nepal's Communist Prime Minister Khadga Prasad Oli to China starting Tuesday, June 19, has generated high expectations for the two countries' bilateral relations, a report in China's Global Times reported.

The two sides are likely to sign several agreements in trade, commerce and infrastructure during Oli's five-day visit, the report said, adding that various ministries were working towards potential agreements on energy, railway and trade.

Nepal Prime Minister Khadga Prasad Oli

One of the main focuses of Oli's latest visit will be to implement a past agreement with the Chinese which was signed during his last visit to China in 2016. Oli lost his prime ministership in August 2016 but came back with an overwhelming mandate in February this year.

According to the Global Times report, Oli's visit will feature petroleum storage facilities, transit and transportation systems besides rail and road links and energy. Memoranda of understanding on starting a joint feasibility study on a free trade agreement between the two countries and also on investment and production capacity are likely to be inked during this visit. A bilateral agreement on joint coordination and implantation mechanism is also in the final stages.

Nepal started its hunt for alternatives more seriously after an undeclared blockade on its southern border over several months in late 2015 left its economy suffering. Of late, the coming of the communists to power after an overwhelming mandate in elections and the swearing in of Oli, perceived to be more friendly towards China, has added momentum to Kathmandu's relations with Beijing.

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