KATHMANDU: The implementation agreement for the Belt and Road Initiative (BRI) with China won’t be signed immediately, announced sources following discussions between Nepal and China.
Foreign Minister Narayankaji Shrestha’s recent visit to China, commencing on March 24, broached the subject of the agreement.
Despite Nepal’s inclusion in China’s ambitious BRI project, a concrete implementation agreement is yet to be finalized.
Initially, Nepal had proposed nine projects under the BRI umbrella.
A government minister revealed that although the cabinet deliberated on the BRI agreement in a meeting earlier today, no decisive action was taken.
“There will be no immediate agreement on BRI during the current visit of our foreign minister to China. His trip to Beijing isn’t primarily centered on negotiating the BRI agreement,” stated a minister who attended the cabinet meeting.
Foreign Minister Shrestha, since assuming office, has emphasized the importance of forging a national consensus on foreign policy.
He believes such consensus is vital, especially regarding geopolitically significant projects like the Millennium Challenge Corporation (MCC) and the BRI.
Scheduled to meet Chinese Foreign Minister Wang Yi in Beijing on March 26, Foreign Minister Shrestha’s itinerary also included discussions on the BRI agreement between Nepal and China.
Reports indicate that Prime Minister Pushpa Kamal Dahal Prachanda, after realigning with the CPN-UML, has shown eagerness to finalize the BRI agreement with China.
Allegedly, the draft of the ‘BRI Implementation Agreement’ was submitted to the Chinese ambassador recently, following the Prime Minister’s directive.
Initially planned for signing during Foreign Minister Shrestha’s visit, the agreement might face a postponement due to mounting pressure on Prime Minister Dahal to reconsider proceeding with the BRI.
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