China-Nepal Nepal signs BRI Cooperation Framework with China during PM KP Oli's official visit to Beijing
Nepalese Prime Minister KP Oli has signed the BRI Cooperation Framework during his ongoing visit to China, the agreement which will pave the way for the execution of BRI projects in the Himalayan nation.
This is Oli's first official visit to China after assuming charge as the PM for the fourth time in his political career.
This was a breaking away from the traditional practice since a Nepali leader generally visits India after taking charge.
The official signing formally advances Nepal's involvement with the BRI.
Officially confirming the development, Nepal's Foreign Ministry wrote on X: "The Government of Nepal and the Government of the People’s Republic of China signed the Framework for Belt and Road Cooperation today."
The Government of Nepal and the Government of the People’s Republic of China signed the Framework for Belt and Road Cooperation today. pic.twitter.com/6oTlDvTzIe
— MOFA of Nepal 🇳🇵 (@MofaNepal) December 4, 2024
A senior Nepali official involved in the talks told The Kathmandu Post that discussions have finally concluded leading to an agreement on the framework.
What is BRI?
The Belt and Road Initiative (BRI) by China is a global infrastructure development strategy adopted by the Chinese government in 2013 to invest in more than 150 countries and international organizations.
It is considered a centerpiece of the Chinese leader Xi Jinping's foreign policy.
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