Vice President Nanda Bahadur Pun has described the China-led Belt and Road Initiative (BRI) as an opportunity to develop infrastructure and to improve connectivity between Nepal and China.

Addressing the 23rd China-Lanzhou Investment and Trade Fair in Lanzhou, the capital city of Gansu Province, Pun said enhancement of connectivity would unleash the potential of trade, investment, tourism and people-to-people contact between the two countries.

“Nepal wishes to improve cross-border connectivity and utilise natural resources for economic transformation of the people,” Pun said. “Economic transformation of a country like Nepal is possible only with more capital investment, transfer of technology, long-term cooperation with BRI countries and sharing of experiences for common benefit.”

Nepal signed the framework agreement on the Chinese connectivity project on May 12. Initiated by Chinese President Xi Jinping in 2013, BRI is a massive infrastructure project spanning some 65 countries and having the backing of more than 100 nations and international organisations.

Pun also thanked the northern neighbour for declaring 2017 as the Nepal Tourism Promotion Year in China. 

He urged the Chinese government to encourage the people to visit Nepal. Three dozen countries and two intergovernmental organisations are participating in the trade fair where Nepal and Malaysia are the main guests.

Stating that Nepal’s current agenda is socio-economic transformation, Pun said the country needs huge investments and that it is safe for investors. “Our legal frameworks are conducive to the investor with guarantee on the repatriation of return on investment,” Pun said. “I invite the investors, entrepreneurs and businesspersons from across China as well as from the BRI participating countries to seize the opportunities available in Nepal.”

Lanzhou, situated in China’s northwest, is a transportation hub. According to Nepal’s ambassador to China Leela Mani Paudyal, the city has been providing land port service to Nepal-bound cargoes since last year.

“The Southern Silk Road that passes to South Asia through Nepal starts from Lanzhou. This indicates the importance of Lanzhou for Nepal,” Paudyal told the Post, adding that the visit of Vice President Pun has strengthened the ties of Nepal with Gansu Province and helped boost the confidence of the business community.

Kathmandu and Lanzhou became sister cities last year. Pun is scheduled return home on July 10.