Deputy Prime Minister and Foreign Minister Kamal Thapa, who is currently on a five-day official visit to China, has signed an eight-point agreement with the Chinese government. The agreement has paved the way for speeding up preparations to ink a deal to import petroleum products from China. 

A foreign ministry level meeting held in Beijing on Friday agreed to give momentum to the proposed fuel import deal. According to a member of the Nepali delegation, Deputy Chief of Nepal Oil Corporation Sushil Bhattarai and Under Secretary Navaraj Dhakal of Ministry of Commerce and Supplies have been called to Beijing to reach an agreement on importing petroleum products from China. Both Bhattarai and Dhakal have reached Beijing on Friday.       

The 8-point agreement states that long-term deal for petrol and gas will be encouraged hinting that a permanent agreement is in the pipeline. The agreement has opened doors for Nepal Oil Corporations and Ministry of Commerce and Supplies to finalise a deal in the coming days. 

Moreover, the Chinese authorities have lifted the travel restrictions for Chinese tourists imposed after the devastating earthquakes in Nepal. After the bilateral agreement, the Chinese government through its consular office has promised to inform its citizens that Nepal is now safe to visit. After the quake, not only Chinese tourist but workers working on various projects in Nepal were also barred from going to Nepal.    

Likewise, the assistance pledged by Chinese President Xi Jinping for the reconstruction and extension of Araniko Highway during annual Boao Forum in China has also been mentioned in the agreement. 

Furthermore, China has assured of giving priority to the Nepali products. China has been assuring to put Nepali products on high priority at South Asia Expo held every two years in China.       

Although the decision to waive customs duty on import of Nepali products was already agreed in principle, Nepali businessmen have complained about different hassles while exporting. But in today’s agreement, the Chinese government has decided to adopt a lenient policy to ease the flow of Nepali products in the Chinese markets. With this, China has also agreed to provide help in setting up industrial system as per Nepal’s necessity.   

China has agreed to provide further facilities on bilateral trade.  Although China has been placing Kerung border point on high priority after Nepal’s request, China has agreed to resume the Tatopani customs point.

Moreover, China has also agreed to open more border points with Nepal. It has been said in the statement that opening more borders will increase bilateral trade between two countries. 

China has also invited Prime Minister KP Oli on China visit next year. In reciprocation, Foreign Minister Kamal Thapa handed over an invitation letter by President Bidhya Devi Bhandari to Chinese President Xi Jinping for Nepal visit.