The main opposition CPN-UML Chairman KP Sharma Oli has termed the Memorandum of Understanding (MoU) that Nepal recently signed with China regarding the 'One Belt One Road' initiative as historic and a milestone for heightening the bilateral ties.

Addressing an interaction programme on OBOR organised here on Tuesday, Oli expressed his hope that OBOR initiative would not only help China attain prosperity but also provide a strong base for taking country's prosperity to a new height.

"The OBOR, a development initiative proposed by China for the interests of self and neighbouring countries, is expected to open a new door for economic progress in Nepal."

Recalling his participation in the OBOR conference hosted by China while he was in the PM post, leader Oli said with the signing of MoU on this concept, Nepal-China relations has reached to a new height.

On a different note, he said greed for power has affected the efforts for attaining sustainable economic development.

"Political parties must realise and become accustomed to the fact that their existence is possible even without sitting in power," the former Prime Minister said.

Also speaking on the occasion, Nepali Congress leader Ram Sharan Mahat said the OBOR initiative would benefit Nepal on multiple fronts including expansion of road network and railway construction.

Chinese investment would increase in Nepal through the implementation of this project.

He insisted on the need of sustainable development and political stability to attain economic progress.

The programme was organised by International Concern Center Nepal. RSS