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Belt and Road Initiatives
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BRI in South Asia and Nepal
The Belt and Road Initiative (BRI) was announced in 2013 as a project to build road
and maritime routes linking China with multiple countries in Asia, Africa and Europe.
China is both a destination country for foreign investment and a major investor
abroad. Along with Nepal, fi ve South Asian countries share their borders with China.
Nepal has a 1414 km stretch of border with China on the northern side along the
Himalayas. China is the second largest trading partner of Nepal.
Nepal and China signed the Memorandum of Understanding (MOU) on cooperation under the BRI on 12 May 2017. Following the signing of the MoU—during the visit of Nepali delegation to Beijing at the Second Belt and Road Forum for International Cooperation in April 2019—two countries signed, among others, the protocol for implementing the Transit and Transport Agreement which allows landlocked Nepal to use seven sea and land ports in China for its international trade.
Nepal and China signed the Memorandum of Understanding (MOU) on cooperation under the BRI on 12 May 2017. Following the signing of the MoU—during the visit of Nepali delegation to Beijing at the Second Belt and Road Forum for International Cooperation in April 2019—two countries signed, among others, the protocol for implementing the Transit and Transport Agreement which allows landlocked Nepal to use seven sea and land ports in China for its international trade.
Key Objective
- To share country-specific BRI experiences from select South Asian and ASEAN countries;
- To discuss ways for leveraging BRI for regional development in South Asia; and
- To identify workable modalities for the implementation of BRI projects in SAARC Countries.