New Delhi:
Nepal’s Prime Minister KP Sharma Oli has reached China. This is the first time that a PM of Nepal has reached China, breaking the long-standing tradition of making his first official visit to neighboring country India. Nepal’s new PM KP Sharma Oli appeared in Beijing on Tuesday to meet Chinese leaders in anticipation of development cooperation for the country’s infrastructure.
Oli will remain in China till Thursday
China’s state media released video footage and said that Kharag Prasad Sharma Oli, who returned to power in July after two previous terms at the top post, reached Beijing on Monday evening to begin the visit. The leader of the Himalayan republic is scheduled to meet Chinese President Xi Jinping and Prime Minister Li Qiang during his visit, which will last till Thursday.
Expectation of investment from China
Beijing’s Foreign Ministry said last week that Xi and Oli would “discuss deepening our traditional friendship.” This includes Xi’s major international infrastructure initiative, the Belt and Road Initiative, and expanding cooperation and exchanges in various fields, ministry spokesman Mao Ning said.
Pradeep Gyawali, deputy secretary of Oli’s Communist Party of Nepal Unified Marxist-Leninist (CPN-UML), told AFP the visit would focus on pre-investment deals. This also includes the recently completed construction of an international airport in the tourism hub of Pokhara.
Oli wants to create coordination between China and India
Oli appears to be trying to blaze a new trail by building a rapport between neighboring China and India, the world’s two most populous nations, but in an effort to reduce Kathmandu’s historical dependence on New Delhi and Beijing. Have taken sides.
Did not receive formal invitation from India
It is being said in Nepali media that due to lack of formal invitation from New Delhi, Oli may have chosen Beijing as his first destination.
Nepal’s Foreign Ministry said Oli would “exchange views on matters of mutual interest” with his Chinese counterparts during the visit. The ministry said he will also deliver a speech at China’s prestigious Peking University and speak at a bilateral trade forum.
India has a major share in Nepal’s foreign investment
According to customs data, India’s share in Nepal’s total trade in the 2023-24 financial year was about 65 percent. China’s trade share was about 15 percent, although Chinese companies are leaders in some industries – including 70 percent of Nepal’s growing electric vehicle market.
According to Nepal’s central bank, India has made the most foreign investment in Nepal, investing more than $750 million last year, while China invested more than $250 million.
