KATHMANDU, March 21 (Nepal Foreign Affairs)–Nepal and China have signed the much-awaited Transit and Transport Agreement on Monday, which will give access to Nepal to conduct its trade with the third countries via Chinese ports including the Guangzhou.
With the signing of the Transit and Transport Agreement, Nepal will utilize the sea ports of China while conducting its third country trade. Nepal had such type of deal with Southern neighbor India and Bangladesh so far. Nepal has been utilizing the Kolkata port of Indian State of West Bengal for the third-country trade.
During the visit of Prime Minister KP Oli to Beijing, the two sides signed the deal, according to Prime Minister Oli’s Foreign Relations Expert Gopal Khanal. Nepal and China also signed a loan agreement on expediting construction of the Pokhara Regional Airport at the Chinese assistance. The two countries also inked the deal on establishing Free Trade Area. While, the two countries signed a Letter of Exchange on Exploring Gas and Oil in Nepal with the Chinese assistance, according to Khanal.
Similarly, China has agreed to provide solar panels to 33,000 households in Nepal and the deal in this connect was also reached between the two sides. Nepal will set up its Consulate Office in Guangzho, the sprawling port city northwest of Hong Kong on the Pearl River.
Prime Minister Oli and his Chinese counterpart Li Keqiang also held bilateral talks before the signing of 10 major bilateral deals. The talks were focused on enhancing the comprehensive partnership between the two countries, Prime Minister’s Media advisor Pramod Dahal said in a press statement.