China and Nepal Sign Cooperation Framework Agreement on Advancing the Belt and Road Initiative
SOURCE:
National Development and Reform Commission
DATE OF RELEASE:
December 6, 2024
On December 4, 2024, Liu Sushe, Vice Chairman of China’s National Development and Reform Commission, and Rai, Acting Foreign Secretary of Nepal, signed a Cooperation Framework Agreement Between the Government of the People’s Republic of China and the Government of Nepal (“Agreement”) on Advancing the Belt and Road Initiative.
The Agreement underscores both nations’ commitment to advance the principles of extensive consultation, joint contribution, and shared benefits. It focuses on deepening practical collaboration in key areas such as economic development, finance, transportation, logistics, trade, industrial investment, and customs.
This milestone Agreement is expected to strengthen political mutual trust between China and Nepal while fostering high-quality Belt and Road cooperation. By leveraging their complementary strengths, the two countries aim to create more opportunities for regional connectivity and economic growth.
The signing marks a significant step forward in enhancing bilateral relations and exemplifies both nations' dedication to shared progress through strategic partnerships under the Belt and Road framework.
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