KATHMANDU: The Federal Parliament of Nepal and the National People’s Congress (NPC) of the People’s Republic of China inked a six-point memorandum of understanding (MoU) in Kathmandu on Monday.

Speaker Agni Prasad Sapkota, Speaker of Federal Parliament of Nepal, and Li Zhanshu, Chairman of the Standing Committee of China’s NPC, signed the agreement at an event held at the Federal Parliament Building in New Baneshwar, Kathmandu.

According to the agreement, both parties would exchange information on each other’s legislative, supervisory and governance practices.

The MoU between the two parliaments also mentions the Belt and Road Initiative, an ambitious project promoted by China.

According to the agreement, the two governments would accord priority and facilitate promotion of inter-nation relationship, mutual benefits and commitments between the two countries, including through the Belt and Road Initiative, the fifth point of the MoU read.

Similarly, both parties have agreed to strengthen cooperation under the framework of international and regional parliamentary organizations, including the Inter-Parliamentary Union, on matters of common interest.