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Nepal, China agree to trade fuel on long term basis

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KATHMANDU — Nepal and China on Friday agreed to have a long term trade petroleum products, including cooking gas, petrol and diesel, and enhance trans-Himalayan network to help two-sided trade.

An accord to this effect was reached during a meeting between Deputy Prime Minister and Minister for Foreign Affairs Kamal Thapa and his Chinese Foreign Minister Wang Yi in Beijing on Friday. DPM and Foreign Minister Thapa is on a week long visit (Dec 24-29) to China.

The two sides sealed an eight-point deal during a bilateral meeting of Deputy PM and Foreign Minister Kamal Thapa and his Chinese counterpart Wang Yi in Beijing on Friday afternoon.

After Nepal proposed to import fuel from the northern neighbor, Chinese side expressed its readiness to jointly examine pricing, transportation and logistics for the same.

“China has advised the respective companies of the two countries to jointly examine the matters relating to price, transportation and other logistics,” the Ministry of Foreign Affairs said in a statement.

The statement stated that China has expressed its willingness to seriously examine Nepal’s proposals for the import of petroleum products from China and has advised the respective companies of the two countries to jointly examine the matters relating to price, transportation and other logistics.

Earlier in the day, Finance Secretary Lok Darshan Regmi and Zhang Xiangchen, Vice Minister of Commerce of China, signed the Agreement on Economic and Technical Cooperation.

Chinese Foreign Minister Wang told reporters that Beijing was assessing how it could support Nepal in addressing its energy needs.

He said China had a strong desire to see a peaceful, stable and prosperous Nepal and assured Thapa of support for Nepal’s development endeavors.
According to MoFA, the two countries also agreed to upgrade and make operational existing border points and develop other crossing points to promote connectivity.

China would make available 900 million RMB (approx Rs 14.75 billion) as grant assistance for the implementation of the projects of repair and maintenance of Araniko Highway and other projects of interconnection and interworking. This assistance was announced by the Chinese President during his meeting with his Nepalese counterpart in March 2015 in Boao, Hainan.

During the bilateral meeting, Chinese side invited Prime Minister KP Sharma Oli to visit China at an early date and expressed likelihood of a high-level visit from China to Nepal in 2016.

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PM congratulates Nepali national cricket team

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KATHMANDU— Prime Minister KP Sharma Oli has congratulated Nepali national cricket team for being able to clinch the International T20 series.

PM Oli in a tweet extended best wishes and congratulations saying he was very happy to know Nepal’s win over the UAE by 14 runs in the third match of the series.

Winning T20 series is another landmark success for Nepali cricket, he said, adding, “It is big achievement for Nepal’s cricket. I would like to heartily congratulate entire members of Nepali cricket squad”.

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