China

Nepal Expresses Concern Regarding High Interest Rate with China

Mar 28, 2022 0 4 minutes 48 seconds to read

March 28: The government held an in-depth discussion with Chinese authorities regarding the high rate of interest on loans from China during the three-day visit of Chinese State Councilor and Foreign Minister Wang Yi to…

Chinese Foreign Minister Wang Wraps up his 3-Day Visit to Nepal

Mar 28, 2022 0 1 minutes 18 seconds to read

March 28: China’s State Councilor and Foreign Minister Wang Yi wrapped up his three-day visit to Nepal and returned home on…

What are the Agendas of Nepal during upcoming Visit of Chinese Foreign Minister?

Mar 15, 2022 0 6 minutes 14 seconds to read

March 15: Nepal is preparing to raise the issues ranging from China’s Belt and Road Initiative (BRI) to the transshipment agenda during the upcoming visit of Chinese Foreign Minister Wang…

< previousnext >

No Laughing Matter

The Sweet Rewards of Power

By Madan Lamsal

. . .
read more »

NEPSE

Notice (8): Undefined variable: file [APP/View/Elements/side_bar.ctp, line 60]Code Context//    $file = 'http://aabhiyan:QUVLg8Wzs2F7G9N7@nepalstock.com.np/api/indexdata.xml';



    if(!$xml = simplexml_load_file($file)){
$viewFile = '/var/www/html/newbusinessage.com/app/View/Elements/side_bar.ctp'
$dataForView = array(
	'articles' => array(
		(int) 0 => array(
			'Article' => array(
				[maximum depth reached]
			)
		),
		(int) 1 => array(
			'Article' => array(
				[maximum depth reached]
			)
		),
		(int) 2 => array(
			'Article' => array(
				[maximum depth reached]
			)
		)
	),
	'current_user' => null,
	'logged_in' => false
)
$articles = array(
	(int) 0 => array(
		'Article' => array(
			'id' => '15006',
			'article_category_id' => '245',
			'title' => 'Nepal Expresses Concern Regarding High Interest Rate with China',
			'sub_title' => '',
			'summary' => 'March 28: The government held an in-depth discussion with Chinese authorities regarding the high rate of interest on loans from China during the three-day visit of Chinese State Councilor and Foreign Minister Wang Yi to Nepal.',
			'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri,&quot;sans-serif&quot;"><span style="font-size:12.0pt"><span style="font-family:&quot;Times New Roman&quot;,&quot;serif&quot;">March 28: The government held an in-depth discussion with Chinese authorities regarding the high rate of interest on loans from China during the three-day visit of Chinese State Councilor and Foreign Minister Wang Yi to Nepal. Showing special interest on this issue, Prime Minister Sher Bahadur Deuba urged Minister Wang to facilitate Nepal as it is a poor nation and cannot afford to take such expensive loan.&nbsp;</span></span></span></span></p>

<p><span style="font-size:11pt"><span style="font-family:Calibri,&quot;sans-serif&quot;"><span style="font-size:12.0pt"><span style="font-family:&quot;Times New Roman&quot;,&quot;serif&quot;">According to high-level sources in Baluwatar, Prime Minister Deuba said during the meeting that Nepal wanted to move ahead with projects under the much-talked-about Chinese Belt and Road Initiative (BRI). A source at the Prime Minister&#39;s Secretariat said that PM Deuba made it clear to the Chinese Foreign Minister that Nepal would take the loan only if China provided the grant under BRI but it cannot take the loan in the current situation.&nbsp;</span></span></span></span></p>

<p><span style="font-size:11pt"><span style="font-family:Calibri,&quot;sans-serif&quot;"><span style="font-size:12.0pt"><span style="font-family:&quot;Times New Roman&quot;,&quot;serif&quot;">A source at the Ministry of Finance said that the two countries did not sign any immediate agreement under the BRI framework during Wang&#39;s visit as the modalities of investment in the projects under BRI were not clear. A senior official at the finance ministry said that the government did not want to sign the agreement immediately but only after finalizing the modalities of China&#39;s assistance under the BRI framework.&nbsp; </span></span></span></span></p>

<p><span style="font-size:11pt"><span style="font-family:Calibri,&quot;sans-serif&quot;"><span style="font-size:12.0pt"><span style="font-family:&quot;Times New Roman&quot;,&quot;serif&quot;">&ldquo;The country&#39;s economy is deteriorating. There&rsquo;s an obligation to take loan for BRI. As the Chinese debt is expensive, the country cannot bear such heavy burden. Therefore, an agreement could not be reached in this regard,&rdquo; the official said.&nbsp;</span></span></span></span></p>

<p><span style="font-size:11pt"><span style="font-family:Calibri,&quot;sans-serif&quot;"><span style="font-size:12.0pt"><span style="font-family:&quot;Times New Roman&quot;,&quot;serif&quot;">A statement issued by the Ministry of Foreign Affairs did not mention anything about the nine projects previously planned to be built under the BRI concept of China.&nbsp;</span></span></span></span></p>

<p><span style="font-size:11pt"><span style="font-family:Calibri,&quot;sans-serif&quot;"><span style="font-size:12.0pt"><span style="font-family:&quot;Times New Roman&quot;,&quot;serif&quot;">Under the BRI project, China has invested heavily in most of the countries. The government of Nepal is alarmed as countries like Sri Lanka and Kazakhstan are facing difficulties to pay back the loans.&nbsp;</span></span></span></span></p>

<p><span style="font-size:11pt"><span style="font-family:Calibri,&quot;sans-serif&quot;"><span style="font-size:12.0pt"><span style="font-family:&quot;Times New Roman&quot;,&quot;serif&quot;">The statement issued by the Ministry of Foreign Affairs on the agreement reached during Foreign Minister Wang&#39;s visit did not even mention the name of the BRI framework. Nepal became a member of the BRI framework of China after signing the deal in 2017.&nbsp;Since then, not a single agreement under BRI has been implemented. China had been planning to sign the BRI Implementation Agreement between the two countries during Wang&rsquo;s visit to Nepal.&nbsp;</span></span></span></span></p>

<p><span style="font-size:11pt"><span style="font-family:Calibri,&quot;sans-serif&quot;"><span style="font-size:12.0pt"><span style="font-family:&quot;Times New Roman&quot;,&quot;serif&quot;">During a meeting with Foreign Minister Narayan Khadka on Saturday, the Chinese Foreign Minister said that the two countries would benefit from signing an agreement on the BRI implementation plan.&nbsp;</span></span></span></span></p>

<p><span style="font-size:11pt"><span style="font-family:Calibri,&quot;sans-serif&quot;"><span style="font-size:12.0pt"><span style="font-family:&quot;Times New Roman&quot;,&quot;serif&quot;">After signing the BRI agreement in May 2017, Nepal has already witnessed four different governments in the past five years. But Nepal hasn&rsquo;t had any concrete dialogue with China about moving ahead with the projects under the BRI.</span></span></span></span></p>

<p><span style="font-size:11pt"><span style="font-family:Calibri,&quot;sans-serif&quot;"><span style="font-size:12.0pt"><span style="font-family:&quot;Times New Roman&quot;,&quot;serif&quot;">In 2017, Nepal proposed 35 different projects under the BRI which was later reduced to 9 upon the request of China.</span></span></span></span></p>

<p>&nbsp;</p>

<p>&nbsp;</p>

<p><span style="font-size:11pt"><span style="font-family:Calibri,&quot;sans-serif&quot;">Those projects include Kerung-Kathmandu Railway, Rasuwagadhi-Kathmandu road upgrading project, Kimathanka-Hile road, Galchi-Rasuwagadhi-Krung 400 kVA transmission line, Tamor hydropower project, Madan Bhandari Technical Institute,Fukot Karnali hydropower project, road from Dipayal to Chinese border and construction of Tokha-Bidur road.</span></span></p>

<p><span style="font-size:11pt"><span style="font-family:Calibri,&quot;sans-serif&quot;">However, officials at the finance ministry say the government has not held any discussion with the Chinese side ever since the Deuba-led government was formed nine months ago.</span></span></p>

<p><span style="font-size:11pt"><span style="font-family:Calibri,&quot;sans-serif&quot;">Spokesperson of the finance ministry Sewa Lamsal says that the two countries are yet to complete their homework regarding the BRI agreement and therefore the projects under BRI will not be implemented anytime soon.</span></span></p>
',
			'published' => true,
			'created' => '2022-03-28',
			'modified' => '2022-04-06',
			'keywords' => '',
			'description' => '',
			'sortorder' => '14749',
			'image' => '20220328023943_RS_KTM_20220326_0188b.jpg',
			'article_date' => '2022-03-28 14:39:00',
			'homepage' => false,
			'breaking_news' => false,
			'main_news' => true,
			'in_scroller' => false,
			'user_id' => '34'
		)
	),
	(int) 1 => array(
		'Article' => array(
			'id' => '15004',
			'article_category_id' => '245',
			'title' => 'Chinese Foreign Minister Wang Wraps up his 3-Day Visit to Nepal',
			'sub_title' => '',
			'summary' => 'March 28: China’s State Councilor and Foreign Minister Wang Yi wrapped up his three-day visit to Nepal and returned home on Sunday. ',
			'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri,&quot;sans-serif&quot;"><span style="font-family:&quot;Arial Unicode MS&quot;,&quot;sans-serif&quot;">March 28: China&rsquo;s State Councilor and Foreign Minister Wang Yi wrapped up his three-day visit to Nepal and returned home on Sunday.&nbsp;<br />
Foreign Secretary Bharat Raj Paudyal, China&rsquo;s Ambassador to Nepal, Hou Yanqi, Chief of Protocol Dr Durga Bahadur Subedi and senior officials at the Ministry of Foreign Affairs and the Embassy of China bade farewell to the special guest from the northern neighbor at Tribhuvan International Airport, the state-owned national news agency RSS reported.</span></span></span></p>

<p><span style="font-size:11pt"><span style="font-family:Calibri,&quot;sans-serif&quot;"><span style="font-family:&quot;Arial Unicode MS&quot;,&quot;sans-serif&quot;">Wang arrived in Nepal on Friday leading a 19-member delegation at the invitation of his Nepalese counterpart - Minister for Foreign Affairs Dr Narayan Khadka.&nbsp;&nbsp;&nbsp;&nbsp; </span><br />
<span style="font-family:&quot;Arial Unicode MS&quot;,&quot;sans-serif&quot;">During his stay in Nepal, the Chinese Minister separately called on President Bidya Devi Bhandari, Prime Minister Sher Bahadur Deuba and former Prime Ministers Pushpa Kamal Dahal and KP Sharma Oli, according to RSS.&nbsp;&nbsp;&nbsp;&nbsp;<br />
&nbsp;During the visit, the foreign ministry-level delegation from both the countries held a bilateral meeting on Saturday (March 26) and the officials from both sides signed nine different Memorandum of Understanding (MoUs) relating to the enhancement of mutual assistance.&nbsp;&nbsp;&nbsp;&nbsp; </span></span></span><br />
&nbsp;</p>
',
			'published' => true,
			'created' => '2022-03-28',
			'modified' => '2022-04-06',
			'keywords' => '',
			'description' => '',
			'sortorder' => '14746',
			'image' => '20220328094237_RS_KTM_008A4999.jpg',
			'article_date' => '2022-03-28 09:41:54',
			'homepage' => false,
			'breaking_news' => false,
			'main_news' => true,
			'in_scroller' => false,
			'user_id' => '34'
		)
	),
	(int) 2 => array(
		'Article' => array(
			'id' => '14935',
			'article_category_id' => '245',
			'title' => 'What are the Agendas of Nepal during upcoming Visit of Chinese Foreign Minister?',
			'sub_title' => '',
			'summary' => 'March 15: Nepal is preparing to raise the issues ranging from China’s Belt and Road Initiative (BRI) to the transshipment agenda during the upcoming visit of Chinese Foreign Minister Wang Yi.',
			'content' => '<p>Bijay Damase</p>

<p><span style="font-size:18px"><span style="font-family:Calibri,&quot;sans-serif&quot;">March 15: Nepal is preparing to raise the issues ranging from China&rsquo;s Belt and Road Initiative (BRI) to the transshipment agenda during the upcoming visit of Chinese Foreign Minister Wang Yi. </span></span></p>

<p><span style="font-size:18px"><span style="font-family:Calibri,&quot;sans-serif&quot;">The Government of Nepal is preparing its agenda in collaboration between the Ministry of Finance, the Ministry of Home Affairs, the Ministry of Culture, Tourism and Civil Aviation, the Ministry of Agriculture and Livestock Development and the Ministry of Industry Commerce and Supplies.</span></span></p>

<p><span style="font-size:18px"><span style="font-family:Calibri,&quot;sans-serif&quot;">According to the finance ministry, the Chinese foreign minister is visiting Nepal to discuss Nepal&rsquo;s plans under the Belt and Road Initiative proposed by the Chinese government.</span></span></p>

<p><span style="font-size:18px"><span style="font-family:Calibri,&quot;sans-serif&quot;">It has already been five years since Nepal signed the BRI. However, the two countries are yet to finalize the projects under the BRI.</span></span></p>

<p><span style="font-size:18px"><span style="font-family:Calibri,&quot;sans-serif&quot;">The Government of Nepal has proposed construction of roads, upgrading highways, feasibility study of Kerung-Kathmandu Railway, hydropower projects among others under the BRI framework. However, the two sides are yet to reach an understanding regarding implementation of these projects. </span></span></p>

<p><span style="font-size:18px"><span style="font-family:Calibri,&quot;sans-serif&quot;">The two countries had signed agreements for collaboration in 18 different sectors including transport network, physical infrastructure, agriculture, hydro power, education and health during the visit of Chinese President Xi Jinping on October 12, 2019.</span></span></p>

<p><span style="font-size:18px"><span style="font-family:Calibri,&quot;sans-serif&quot;">However, those agendas have not been implemented effectively by the two countries. The upcoming visit of Chinese Foreign Minister Wang is expected to expedite these agreements. </span></span></p>

<p><span style="font-size:18px"><span style="font-family:Calibri,&quot;sans-serif&quot;">The finance ministry has already prepared a preliminary draft of agendas to be discussed during Wang&rsquo;s visit. The draft has been submitted to the foreign ministry.</span></span></p>

<p><span style="font-size:18px"><span style="font-family:Calibri,&quot;sans-serif&quot;">According to an official of the finance ministry, the two sides will also discuss about the grant assistance of Rs 56 billion announced during the visit of Chinese President Xi. The Chinese president had pledged the amount to his Nepali counterpart during his two-day state visit to Nepal in October 2019. The two countries are yet to sign an agreement to receive the grant from China.</span></span></p>

<p><span style="font-size:18px"><span style="font-family:Calibri,&quot;sans-serif&quot;">The Government of Nepal is preparing its agenda to utilize the grant assistance from China for the President&rsquo;s Education Improvement Programme. </span></span></p>

<p><span style="font-size:18px"><span style="font-family:Calibri,&quot;sans-serif&quot;">Nepal will also urge the Chinese delegation for easy access of Nepali goods in the Chinese market.</span></span></p>

<p><span style="font-size:18px"><span style="font-family:Calibri,&quot;sans-serif&quot;">Nepal is still unable to export goods to China from Rasuwagadhi and Tatopani customs due to the obstruction in the wake of Covid-19 pandemic. Even the supply of goods from China is not smooth.</span></span></p>

<p><span style="font-size:18px"><span style="font-family:Calibri,&quot;sans-serif&quot;">Nepal&rsquo;s trade deficit with China will also be discussed during the meeting, said informed sources.</span></span></p>

<p><span style="font-size:18px"><span style="font-family:Calibri,&quot;sans-serif&quot;">The government is also preparing to sign a few agreements during the visit of Chinese foreign minister. </span></span></p>

<p><span style="font-size:18px"><span style="font-family:Calibri,&quot;sans-serif&quot;">While the government is preparing for the agenda during the visit, finance ministry is doing its homework to resolve some issues at the diplomatic level.</span></span></p>

<p><span style="font-size:18px"><span style="font-family:Calibri,&quot;sans-serif&quot;">Joint Secretary at the finance ministry Sewa Lamsal said that the ministry is making its preparations for various agendas including the relation between the two countries as well as business partnership. According to Lamsal, the Chinese foreign minister is likely to arrive in Nepal in late March.</span></span></p>

<p><span style="font-size:18px"><span style="font-family:Calibri,&quot;sans-serif&quot;">&ldquo;Diplomatic efforts are being made for the visit of Chinese foreign minister in the third or fourth week of March,&rdquo; said a source requesting anonymity. </span></span></p>

<p><span style="font-size:18px"><span style="font-family:Calibri,&quot;sans-serif&quot;">According to a source at the Ministry of Finance, the Chinese delegation led by Wang will arrive in Nepal on March 26 or March 27. </span></span></p>

<p><span style="font-size:18px"><span style="font-family:Calibri,&quot;sans-serif&quot;">Foreign Minister Dr Narayan Khadka, before leaving for Turkey last Tuesday, had instructed officials of the ministry to make preparations for the visit of the Chinese delegation. Chinese Ambassador to Nepal Hou Yanqi had informed Foreign Minister Khadka about the visit of his Chinese counterpart a day before he left for Turkey. </span></span></p>

<p><span style="font-size:18px"><span style="font-family:Calibri,&quot;sans-serif&quot;"><strong>What do experts say about the visit of Chinese foreign minister?</strong></span></span></p>

<p><span style="font-size:18px"><span style="font-family:Calibri,&quot;sans-serif&quot;">The BRI was initiated in 2013. Nepal faced economic blockade in 2015. Nepal decided to take part in the BRI after the blockade. Under the BRI framework, Nepal could utilize four Chinese ports while the Chinese side assured of helping Nepal in upgrading roads and to facilitate in fuel supply as well as to open 13/14 border points. However, there has been no progress in the last seven years. Experts say that Nepal must raise these issues effectively during the visit of the Chinese delegation.</span></span></p>

<p><span style="font-size:18px"><span style="font-family:Calibri,&quot;sans-serif&quot;">Analyst Hari Rokka says that the Nepali importers are facing problems due to the supply chain disruption from China. He says that the government must take initiative to open the border as per the aspirations of the business community. </span></span></p>

<p><span style="font-size:18px"><span style="font-family:Calibri,&quot;sans-serif&quot;">Rajendra Malla, president of Nepal Chamber of Commerce (NCC), says that there is a wide gap in trade deficit between Nepal and China. Exports from Nepal is almost nil while China is the second largest supplier behind India. He suggests the government of Nepal to raise the issue of trade deficit and to narrow the gap. </span></span></p>

<p><span style="font-size:18px"><span style="font-family:Calibri,&quot;sans-serif&quot;">Former secretary Puroshattam Ojha also suggests narrowing the gap in trade deficit between Nepal and China. &ldquo;The trade deficit is imbalanced. Nepal should strongly raise this issue during the upcoming meeting,&rdquo; says Ojha.</span></span></p>

<p><span style="font-size:18px"><span style="font-family:Calibri,&quot;sans-serif&quot;">He also said that the two countries signed agreement for transshipment of goods but the decision has not been implemented. &ldquo;No one knows how the transshipment will be done. This agenda must also be included during the visit,&rdquo; he added.</span></span></p>

<p>&nbsp;</p>
',
			'published' => true,
			'created' => '2022-03-15',
			'modified' => '2022-04-06',
			'keywords' => '',
			'description' => '',
			'sortorder' => '14677',
			'image' => '20220315073402_Flag-Pins-Nepal-China.jpg',
			'article_date' => '2022-03-15 19:33:17',
			'homepage' => false,
			'breaking_news' => false,
			'main_news' => true,
			'in_scroller' => false,
			'user_id' => '34'
		)
	)
)
$current_user = null
$logged_in = false
include - APP/View/Elements/side_bar.ctp, line 60
View::_evaluate() - CORE/Cake/View/View.php, line 971
View::_render() - CORE/Cake/View/View.php, line 933
View::_renderElement() - CORE/Cake/View/View.php, line 1224
View::element() - CORE/Cake/View/View.php, line 418
include - APP/View/Articles/index.ctp, line 157
View::_evaluate() - CORE/Cake/View/View.php, line 971
View::_render() - CORE/Cake/View/View.php, line 933
View::render() - CORE/Cake/View/View.php, line 473
Controller::render() - CORE/Cake/Controller/Controller.php, line 968
Dispatcher::_invoke() - CORE/Cake/Routing/Dispatcher.php, line 200
Dispatcher::dispatch() - CORE/Cake/Routing/Dispatcher.php, line 167
[main] - APP/webroot/index.php, line 117

Warning (2): simplexml_load_file() [<a href='http://php.net/function.simplexml-load-file'>function.simplexml-load-file</a>]: I/O warning : failed to load external entity &quot;&quot; [APP/View/Elements/side_bar.ctp, line 60]Code Context//    $file = 'http://aabhiyan:QUVLg8Wzs2F7G9N7@nepalstock.com.np/api/indexdata.xml';



    if(!$xml = simplexml_load_file($file)){
$viewFile = '/var/www/html/newbusinessage.com/app/View/Elements/side_bar.ctp'
$dataForView = array(
	'articles' => array(
		(int) 0 => array(
			'Article' => array(
				[maximum depth reached]
			)
		),
		(int) 1 => array(
			'Article' => array(
				[maximum depth reached]
			)
		),
		(int) 2 => array(
			'Article' => array(
				[maximum depth reached]
			)
		)
	),
	'current_user' => null,
	'logged_in' => false
)
$articles = array(
	(int) 0 => array(
		'Article' => array(
			'id' => '15006',
			'article_category_id' => '245',
			'title' => 'Nepal Expresses Concern Regarding High Interest Rate with China',
			'sub_title' => '',
			'summary' => 'March 28: The government held an in-depth discussion with Chinese authorities regarding the high rate of interest on loans from China during the three-day visit of Chinese State Councilor and Foreign Minister Wang Yi to Nepal.',
			'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri,&quot;sans-serif&quot;"><span style="font-size:12.0pt"><span style="font-family:&quot;Times New Roman&quot;,&quot;serif&quot;">March 28: The government held an in-depth discussion with Chinese authorities regarding the high rate of interest on loans from China during the three-day visit of Chinese State Councilor and Foreign Minister Wang Yi to Nepal. Showing special interest on this issue, Prime Minister Sher Bahadur Deuba urged Minister Wang to facilitate Nepal as it is a poor nation and cannot afford to take such expensive loan.&nbsp;</span></span></span></span></p>

<p><span style="font-size:11pt"><span style="font-family:Calibri,&quot;sans-serif&quot;"><span style="font-size:12.0pt"><span style="font-family:&quot;Times New Roman&quot;,&quot;serif&quot;">According to high-level sources in Baluwatar, Prime Minister Deuba said during the meeting that Nepal wanted to move ahead with projects under the much-talked-about Chinese Belt and Road Initiative (BRI). A source at the Prime Minister&#39;s Secretariat said that PM Deuba made it clear to the Chinese Foreign Minister that Nepal would take the loan only if China provided the grant under BRI but it cannot take the loan in the current situation.&nbsp;</span></span></span></span></p>

<p><span style="font-size:11pt"><span style="font-family:Calibri,&quot;sans-serif&quot;"><span style="font-size:12.0pt"><span style="font-family:&quot;Times New Roman&quot;,&quot;serif&quot;">A source at the Ministry of Finance said that the two countries did not sign any immediate agreement under the BRI framework during Wang&#39;s visit as the modalities of investment in the projects under BRI were not clear. A senior official at the finance ministry said that the government did not want to sign the agreement immediately but only after finalizing the modalities of China&#39;s assistance under the BRI framework.&nbsp; </span></span></span></span></p>

<p><span style="font-size:11pt"><span style="font-family:Calibri,&quot;sans-serif&quot;"><span style="font-size:12.0pt"><span style="font-family:&quot;Times New Roman&quot;,&quot;serif&quot;">&ldquo;The country&#39;s economy is deteriorating. There&rsquo;s an obligation to take loan for BRI. As the Chinese debt is expensive, the country cannot bear such heavy burden. Therefore, an agreement could not be reached in this regard,&rdquo; the official said.&nbsp;</span></span></span></span></p>

<p><span style="font-size:11pt"><span style="font-family:Calibri,&quot;sans-serif&quot;"><span style="font-size:12.0pt"><span style="font-family:&quot;Times New Roman&quot;,&quot;serif&quot;">A statement issued by the Ministry of Foreign Affairs did not mention anything about the nine projects previously planned to be built under the BRI concept of China.&nbsp;</span></span></span></span></p>

<p><span style="font-size:11pt"><span style="font-family:Calibri,&quot;sans-serif&quot;"><span style="font-size:12.0pt"><span style="font-family:&quot;Times New Roman&quot;,&quot;serif&quot;">Under the BRI project, China has invested heavily in most of the countries. The government of Nepal is alarmed as countries like Sri Lanka and Kazakhstan are facing difficulties to pay back the loans.&nbsp;</span></span></span></span></p>

<p><span style="font-size:11pt"><span style="font-family:Calibri,&quot;sans-serif&quot;"><span style="font-size:12.0pt"><span style="font-family:&quot;Times New Roman&quot;,&quot;serif&quot;">The statement issued by the Ministry of Foreign Affairs on the agreement reached during Foreign Minister Wang&#39;s visit did not even mention the name of the BRI framework. Nepal became a member of the BRI framework of China after signing the deal in 2017.&nbsp;Since then, not a single agreement under BRI has been implemented. China had been planning to sign the BRI Implementation Agreement between the two countries during Wang&rsquo;s visit to Nepal.&nbsp;</span></span></span></span></p>

<p><span style="font-size:11pt"><span style="font-family:Calibri,&quot;sans-serif&quot;"><span style="font-size:12.0pt"><span style="font-family:&quot;Times New Roman&quot;,&quot;serif&quot;">During a meeting with Foreign Minister Narayan Khadka on Saturday, the Chinese Foreign Minister said that the two countries would benefit from signing an agreement on the BRI implementation plan.&nbsp;</span></span></span></span></p>

<p><span style="font-size:11pt"><span style="font-family:Calibri,&quot;sans-serif&quot;"><span style="font-size:12.0pt"><span style="font-family:&quot;Times New Roman&quot;,&quot;serif&quot;">After signing the BRI agreement in May 2017, Nepal has already witnessed four different governments in the past five years. But Nepal hasn&rsquo;t had any concrete dialogue with China about moving ahead with the projects under the BRI.</span></span></span></span></p>

<p><span style="font-size:11pt"><span style="font-family:Calibri,&quot;sans-serif&quot;"><span style="font-size:12.0pt"><span style="font-family:&quot;Times New Roman&quot;,&quot;serif&quot;">In 2017, Nepal proposed 35 different projects under the BRI which was later reduced to 9 upon the request of China.</span></span></span></span></p>

<p>&nbsp;</p>

<p>&nbsp;</p>

<p><span style="font-size:11pt"><span style="font-family:Calibri,&quot;sans-serif&quot;">Those projects include Kerung-Kathmandu Railway, Rasuwagadhi-Kathmandu road upgrading project, Kimathanka-Hile road, Galchi-Rasuwagadhi-Krung 400 kVA transmission line, Tamor hydropower project, Madan Bhandari Technical Institute,Fukot Karnali hydropower project, road from Dipayal to Chinese border and construction of Tokha-Bidur road.</span></span></p>

<p><span style="font-size:11pt"><span style="font-family:Calibri,&quot;sans-serif&quot;">However, officials at the finance ministry say the government has not held any discussion with the Chinese side ever since the Deuba-led government was formed nine months ago.</span></span></p>

<p><span style="font-size:11pt"><span style="font-family:Calibri,&quot;sans-serif&quot;">Spokesperson of the finance ministry Sewa Lamsal says that the two countries are yet to complete their homework regarding the BRI agreement and therefore the projects under BRI will not be implemented anytime soon.</span></span></p>
',
			'published' => true,
			'created' => '2022-03-28',
			'modified' => '2022-04-06',
			'keywords' => '',
			'description' => '',
			'sortorder' => '14749',
			'image' => '20220328023943_RS_KTM_20220326_0188b.jpg',
			'article_date' => '2022-03-28 14:39:00',
			'homepage' => false,
			'breaking_news' => false,
			'main_news' => true,
			'in_scroller' => false,
			'user_id' => '34'
		)
	),
	(int) 1 => array(
		'Article' => array(
			'id' => '15004',
			'article_category_id' => '245',
			'title' => 'Chinese Foreign Minister Wang Wraps up his 3-Day Visit to Nepal',
			'sub_title' => '',
			'summary' => 'March 28: China’s State Councilor and Foreign Minister Wang Yi wrapped up his three-day visit to Nepal and returned home on Sunday. ',
			'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri,&quot;sans-serif&quot;"><span style="font-family:&quot;Arial Unicode MS&quot;,&quot;sans-serif&quot;">March 28: China&rsquo;s State Councilor and Foreign Minister Wang Yi wrapped up his three-day visit to Nepal and returned home on Sunday.&nbsp;<br />
Foreign Secretary Bharat Raj Paudyal, China&rsquo;s Ambassador to Nepal, Hou Yanqi, Chief of Protocol Dr Durga Bahadur Subedi and senior officials at the Ministry of Foreign Affairs and the Embassy of China bade farewell to the special guest from the northern neighbor at Tribhuvan International Airport, the state-owned national news agency RSS reported.</span></span></span></p>

<p><span style="font-size:11pt"><span style="font-family:Calibri,&quot;sans-serif&quot;"><span style="font-family:&quot;Arial Unicode MS&quot;,&quot;sans-serif&quot;">Wang arrived in Nepal on Friday leading a 19-member delegation at the invitation of his Nepalese counterpart - Minister for Foreign Affairs Dr Narayan Khadka.&nbsp;&nbsp;&nbsp;&nbsp; </span><br />
<span style="font-family:&quot;Arial Unicode MS&quot;,&quot;sans-serif&quot;">During his stay in Nepal, the Chinese Minister separately called on President Bidya Devi Bhandari, Prime Minister Sher Bahadur Deuba and former Prime Ministers Pushpa Kamal Dahal and KP Sharma Oli, according to RSS.&nbsp;&nbsp;&nbsp;&nbsp;<br />
&nbsp;During the visit, the foreign ministry-level delegation from both the countries held a bilateral meeting on Saturday (March 26) and the officials from both sides signed nine different Memorandum of Understanding (MoUs) relating to the enhancement of mutual assistance.&nbsp;&nbsp;&nbsp;&nbsp; </span></span></span><br />
&nbsp;</p>
',
			'published' => true,
			'created' => '2022-03-28',
			'modified' => '2022-04-06',
			'keywords' => '',
			'description' => '',
			'sortorder' => '14746',
			'image' => '20220328094237_RS_KTM_008A4999.jpg',
			'article_date' => '2022-03-28 09:41:54',
			'homepage' => false,
			'breaking_news' => false,
			'main_news' => true,
			'in_scroller' => false,
			'user_id' => '34'
		)
	),
	(int) 2 => array(
		'Article' => array(
			'id' => '14935',
			'article_category_id' => '245',
			'title' => 'What are the Agendas of Nepal during upcoming Visit of Chinese Foreign Minister?',
			'sub_title' => '',
			'summary' => 'March 15: Nepal is preparing to raise the issues ranging from China’s Belt and Road Initiative (BRI) to the transshipment agenda during the upcoming visit of Chinese Foreign Minister Wang Yi.',
			'content' => '<p>Bijay Damase</p>

<p><span style="font-size:18px"><span style="font-family:Calibri,&quot;sans-serif&quot;">March 15: Nepal is preparing to raise the issues ranging from China&rsquo;s Belt and Road Initiative (BRI) to the transshipment agenda during the upcoming visit of Chinese Foreign Minister Wang Yi. </span></span></p>

<p><span style="font-size:18px"><span style="font-family:Calibri,&quot;sans-serif&quot;">The Government of Nepal is preparing its agenda in collaboration between the Ministry of Finance, the Ministry of Home Affairs, the Ministry of Culture, Tourism and Civil Aviation, the Ministry of Agriculture and Livestock Development and the Ministry of Industry Commerce and Supplies.</span></span></p>

<p><span style="font-size:18px"><span style="font-family:Calibri,&quot;sans-serif&quot;">According to the finance ministry, the Chinese foreign minister is visiting Nepal to discuss Nepal&rsquo;s plans under the Belt and Road Initiative proposed by the Chinese government.</span></span></p>

<p><span style="font-size:18px"><span style="font-family:Calibri,&quot;sans-serif&quot;">It has already been five years since Nepal signed the BRI. However, the two countries are yet to finalize the projects under the BRI.</span></span></p>

<p><span style="font-size:18px"><span style="font-family:Calibri,&quot;sans-serif&quot;">The Government of Nepal has proposed construction of roads, upgrading highways, feasibility study of Kerung-Kathmandu Railway, hydropower projects among others under the BRI framework. However, the two sides are yet to reach an understanding regarding implementation of these projects. </span></span></p>

<p><span style="font-size:18px"><span style="font-family:Calibri,&quot;sans-serif&quot;">The two countries had signed agreements for collaboration in 18 different sectors including transport network, physical infrastructure, agriculture, hydro power, education and health during the visit of Chinese President Xi Jinping on October 12, 2019.</span></span></p>

<p><span style="font-size:18px"><span style="font-family:Calibri,&quot;sans-serif&quot;">However, those agendas have not been implemented effectively by the two countries. The upcoming visit of Chinese Foreign Minister Wang is expected to expedite these agreements. </span></span></p>

<p><span style="font-size:18px"><span style="font-family:Calibri,&quot;sans-serif&quot;">The finance ministry has already prepared a preliminary draft of agendas to be discussed during Wang&rsquo;s visit. The draft has been submitted to the foreign ministry.</span></span></p>

<p><span style="font-size:18px"><span style="font-family:Calibri,&quot;sans-serif&quot;">According to an official of the finance ministry, the two sides will also discuss about the grant assistance of Rs 56 billion announced during the visit of Chinese President Xi. The Chinese president had pledged the amount to his Nepali counterpart during his two-day state visit to Nepal in October 2019. The two countries are yet to sign an agreement to receive the grant from China.</span></span></p>

<p><span style="font-size:18px"><span style="font-family:Calibri,&quot;sans-serif&quot;">The Government of Nepal is preparing its agenda to utilize the grant assistance from China for the President&rsquo;s Education Improvement Programme. </span></span></p>

<p><span style="font-size:18px"><span style="font-family:Calibri,&quot;sans-serif&quot;">Nepal will also urge the Chinese delegation for easy access of Nepali goods in the Chinese market.</span></span></p>

<p><span style="font-size:18px"><span style="font-family:Calibri,&quot;sans-serif&quot;">Nepal is still unable to export goods to China from Rasuwagadhi and Tatopani customs due to the obstruction in the wake of Covid-19 pandemic. Even the supply of goods from China is not smooth.</span></span></p>

<p><span style="font-size:18px"><span style="font-family:Calibri,&quot;sans-serif&quot;">Nepal&rsquo;s trade deficit with China will also be discussed during the meeting, said informed sources.</span></span></p>

<p><span style="font-size:18px"><span style="font-family:Calibri,&quot;sans-serif&quot;">The government is also preparing to sign a few agreements during the visit of Chinese foreign minister. </span></span></p>

<p><span style="font-size:18px"><span style="font-family:Calibri,&quot;sans-serif&quot;">While the government is preparing for the agenda during the visit, finance ministry is doing its homework to resolve some issues at the diplomatic level.</span></span></p>

<p><span style="font-size:18px"><span style="font-family:Calibri,&quot;sans-serif&quot;">Joint Secretary at the finance ministry Sewa Lamsal said that the ministry is making its preparations for various agendas including the relation between the two countries as well as business partnership. According to Lamsal, the Chinese foreign minister is likely to arrive in Nepal in late March.</span></span></p>

<p><span style="font-size:18px"><span style="font-family:Calibri,&quot;sans-serif&quot;">&ldquo;Diplomatic efforts are being made for the visit of Chinese foreign minister in the third or fourth week of March,&rdquo; said a source requesting anonymity. </span></span></p>

<p><span style="font-size:18px"><span style="font-family:Calibri,&quot;sans-serif&quot;">According to a source at the Ministry of Finance, the Chinese delegation led by Wang will arrive in Nepal on March 26 or March 27. </span></span></p>

<p><span style="font-size:18px"><span style="font-family:Calibri,&quot;sans-serif&quot;">Foreign Minister Dr Narayan Khadka, before leaving for Turkey last Tuesday, had instructed officials of the ministry to make preparations for the visit of the Chinese delegation. Chinese Ambassador to Nepal Hou Yanqi had informed Foreign Minister Khadka about the visit of his Chinese counterpart a day before he left for Turkey. </span></span></p>

<p><span style="font-size:18px"><span style="font-family:Calibri,&quot;sans-serif&quot;"><strong>What do experts say about the visit of Chinese foreign minister?</strong></span></span></p>

<p><span style="font-size:18px"><span style="font-family:Calibri,&quot;sans-serif&quot;">The BRI was initiated in 2013. Nepal faced economic blockade in 2015. Nepal decided to take part in the BRI after the blockade. Under the BRI framework, Nepal could utilize four Chinese ports while the Chinese side assured of helping Nepal in upgrading roads and to facilitate in fuel supply as well as to open 13/14 border points. However, there has been no progress in the last seven years. Experts say that Nepal must raise these issues effectively during the visit of the Chinese delegation.</span></span></p>

<p><span style="font-size:18px"><span style="font-family:Calibri,&quot;sans-serif&quot;">Analyst Hari Rokka says that the Nepali importers are facing problems due to the supply chain disruption from China. He says that the government must take initiative to open the border as per the aspirations of the business community. </span></span></p>

<p><span style="font-size:18px"><span style="font-family:Calibri,&quot;sans-serif&quot;">Rajendra Malla, president of Nepal Chamber of Commerce (NCC), says that there is a wide gap in trade deficit between Nepal and China. Exports from Nepal is almost nil while China is the second largest supplier behind India. He suggests the government of Nepal to raise the issue of trade deficit and to narrow the gap. </span></span></p>

<p><span style="font-size:18px"><span style="font-family:Calibri,&quot;sans-serif&quot;">Former secretary Puroshattam Ojha also suggests narrowing the gap in trade deficit between Nepal and China. &ldquo;The trade deficit is imbalanced. Nepal should strongly raise this issue during the upcoming meeting,&rdquo; says Ojha.</span></span></p>

<p><span style="font-size:18px"><span style="font-family:Calibri,&quot;sans-serif&quot;">He also said that the two countries signed agreement for transshipment of goods but the decision has not been implemented. &ldquo;No one knows how the transshipment will be done. This agenda must also be included during the visit,&rdquo; he added.</span></span></p>

<p>&nbsp;</p>
',
			'published' => true,
			'created' => '2022-03-15',
			'modified' => '2022-04-06',
			'keywords' => '',
			'description' => '',
			'sortorder' => '14677',
			'image' => '20220315073402_Flag-Pins-Nepal-China.jpg',
			'article_date' => '2022-03-15 19:33:17',
			'homepage' => false,
			'breaking_news' => false,
			'main_news' => true,
			'in_scroller' => false,
			'user_id' => '34'
		)
	)
)
$current_user = null
$logged_in = false
simplexml_load_file - [internal], line ??
include - APP/View/Elements/side_bar.ctp, line 60
View::_evaluate() - CORE/Cake/View/View.php, line 971
View::_render() - CORE/Cake/View/View.php, line 933
View::_renderElement() - CORE/Cake/View/View.php, line 1224
View::element() - CORE/Cake/View/View.php, line 418
include - APP/View/Articles/index.ctp, line 157
View::_evaluate() - CORE/Cake/View/View.php, line 971
View::_render() - CORE/Cake/View/View.php, line 933
View::render() - CORE/Cake/View/View.php, line 473
Controller::render() - CORE/Cake/Controller/Controller.php, line 968
Dispatcher::_invoke() - CORE/Cake/Routing/Dispatcher.php, line 200
Dispatcher::dispatch() - CORE/Cake/Routing/Dispatcher.php, line 167
[main] - APP/webroot/index.php, line 117

file not found!

Notice (8): Undefined variable: file [APP/View/Elements/side_bar.ctp, line 133]Code Context  //  $file = 'http://aabhiyan:QUVLg8Wzs2F7G9N7@nepalstock.com.np/api/subindexdata.xml';



    if(!$xml = simplexml_load_file($file)){
$viewFile = '/var/www/html/newbusinessage.com/app/View/Elements/side_bar.ctp'
$dataForView = array(
	'articles' => array(
		(int) 0 => array(
			'Article' => array(
				[maximum depth reached]
			)
		),
		(int) 1 => array(
			'Article' => array(
				[maximum depth reached]
			)
		),
		(int) 2 => array(
			'Article' => array(
				[maximum depth reached]
			)
		)
	),
	'current_user' => null,
	'logged_in' => false
)
$articles = array(
	(int) 0 => array(
		'Article' => array(
			'id' => '15006',
			'article_category_id' => '245',
			'title' => 'Nepal Expresses Concern Regarding High Interest Rate with China',
			'sub_title' => '',
			'summary' => 'March 28: The government held an in-depth discussion with Chinese authorities regarding the high rate of interest on loans from China during the three-day visit of Chinese State Councilor and Foreign Minister Wang Yi to Nepal.',
			'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri,&quot;sans-serif&quot;"><span style="font-size:12.0pt"><span style="font-family:&quot;Times New Roman&quot;,&quot;serif&quot;">March 28: The government held an in-depth discussion with Chinese authorities regarding the high rate of interest on loans from China during the three-day visit of Chinese State Councilor and Foreign Minister Wang Yi to Nepal. Showing special interest on this issue, Prime Minister Sher Bahadur Deuba urged Minister Wang to facilitate Nepal as it is a poor nation and cannot afford to take such expensive loan.&nbsp;</span></span></span></span></p>

<p><span style="font-size:11pt"><span style="font-family:Calibri,&quot;sans-serif&quot;"><span style="font-size:12.0pt"><span style="font-family:&quot;Times New Roman&quot;,&quot;serif&quot;">According to high-level sources in Baluwatar, Prime Minister Deuba said during the meeting that Nepal wanted to move ahead with projects under the much-talked-about Chinese Belt and Road Initiative (BRI). A source at the Prime Minister&#39;s Secretariat said that PM Deuba made it clear to the Chinese Foreign Minister that Nepal would take the loan only if China provided the grant under BRI but it cannot take the loan in the current situation.&nbsp;</span></span></span></span></p>

<p><span style="font-size:11pt"><span style="font-family:Calibri,&quot;sans-serif&quot;"><span style="font-size:12.0pt"><span style="font-family:&quot;Times New Roman&quot;,&quot;serif&quot;">A source at the Ministry of Finance said that the two countries did not sign any immediate agreement under the BRI framework during Wang&#39;s visit as the modalities of investment in the projects under BRI were not clear. A senior official at the finance ministry said that the government did not want to sign the agreement immediately but only after finalizing the modalities of China&#39;s assistance under the BRI framework.&nbsp; </span></span></span></span></p>

<p><span style="font-size:11pt"><span style="font-family:Calibri,&quot;sans-serif&quot;"><span style="font-size:12.0pt"><span style="font-family:&quot;Times New Roman&quot;,&quot;serif&quot;">&ldquo;The country&#39;s economy is deteriorating. There&rsquo;s an obligation to take loan for BRI. As the Chinese debt is expensive, the country cannot bear such heavy burden. Therefore, an agreement could not be reached in this regard,&rdquo; the official said.&nbsp;</span></span></span></span></p>

<p><span style="font-size:11pt"><span style="font-family:Calibri,&quot;sans-serif&quot;"><span style="font-size:12.0pt"><span style="font-family:&quot;Times New Roman&quot;,&quot;serif&quot;">A statement issued by the Ministry of Foreign Affairs did not mention anything about the nine projects previously planned to be built under the BRI concept of China.&nbsp;</span></span></span></span></p>

<p><span style="font-size:11pt"><span style="font-family:Calibri,&quot;sans-serif&quot;"><span style="font-size:12.0pt"><span style="font-family:&quot;Times New Roman&quot;,&quot;serif&quot;">Under the BRI project, China has invested heavily in most of the countries. The government of Nepal is alarmed as countries like Sri Lanka and Kazakhstan are facing difficulties to pay back the loans.&nbsp;</span></span></span></span></p>

<p><span style="font-size:11pt"><span style="font-family:Calibri,&quot;sans-serif&quot;"><span style="font-size:12.0pt"><span style="font-family:&quot;Times New Roman&quot;,&quot;serif&quot;">The statement issued by the Ministry of Foreign Affairs on the agreement reached during Foreign Minister Wang&#39;s visit did not even mention the name of the BRI framework. Nepal became a member of the BRI framework of China after signing the deal in 2017.&nbsp;Since then, not a single agreement under BRI has been implemented. China had been planning to sign the BRI Implementation Agreement between the two countries during Wang&rsquo;s visit to Nepal.&nbsp;</span></span></span></span></p>

<p><span style="font-size:11pt"><span style="font-family:Calibri,&quot;sans-serif&quot;"><span style="font-size:12.0pt"><span style="font-family:&quot;Times New Roman&quot;,&quot;serif&quot;">During a meeting with Foreign Minister Narayan Khadka on Saturday, the Chinese Foreign Minister said that the two countries would benefit from signing an agreement on the BRI implementation plan.&nbsp;</span></span></span></span></p>

<p><span style="font-size:11pt"><span style="font-family:Calibri,&quot;sans-serif&quot;"><span style="font-size:12.0pt"><span style="font-family:&quot;Times New Roman&quot;,&quot;serif&quot;">After signing the BRI agreement in May 2017, Nepal has already witnessed four different governments in the past five years. But Nepal hasn&rsquo;t had any concrete dialogue with China about moving ahead with the projects under the BRI.</span></span></span></span></p>

<p><span style="font-size:11pt"><span style="font-family:Calibri,&quot;sans-serif&quot;"><span style="font-size:12.0pt"><span style="font-family:&quot;Times New Roman&quot;,&quot;serif&quot;">In 2017, Nepal proposed 35 different projects under the BRI which was later reduced to 9 upon the request of China.</span></span></span></span></p>

<p>&nbsp;</p>

<p>&nbsp;</p>

<p><span style="font-size:11pt"><span style="font-family:Calibri,&quot;sans-serif&quot;">Those projects include Kerung-Kathmandu Railway, Rasuwagadhi-Kathmandu road upgrading project, Kimathanka-Hile road, Galchi-Rasuwagadhi-Krung 400 kVA transmission line, Tamor hydropower project, Madan Bhandari Technical Institute,Fukot Karnali hydropower project, road from Dipayal to Chinese border and construction of Tokha-Bidur road.</span></span></p>

<p><span style="font-size:11pt"><span style="font-family:Calibri,&quot;sans-serif&quot;">However, officials at the finance ministry say the government has not held any discussion with the Chinese side ever since the Deuba-led government was formed nine months ago.</span></span></p>

<p><span style="font-size:11pt"><span style="font-family:Calibri,&quot;sans-serif&quot;">Spokesperson of the finance ministry Sewa Lamsal says that the two countries are yet to complete their homework regarding the BRI agreement and therefore the projects under BRI will not be implemented anytime soon.</span></span></p>
',
			'published' => true,
			'created' => '2022-03-28',
			'modified' => '2022-04-06',
			'keywords' => '',
			'description' => '',
			'sortorder' => '14749',
			'image' => '20220328023943_RS_KTM_20220326_0188b.jpg',
			'article_date' => '2022-03-28 14:39:00',
			'homepage' => false,
			'breaking_news' => false,
			'main_news' => true,
			'in_scroller' => false,
			'user_id' => '34'
		)
	),
	(int) 1 => array(
		'Article' => array(
			'id' => '15004',
			'article_category_id' => '245',
			'title' => 'Chinese Foreign Minister Wang Wraps up his 3-Day Visit to Nepal',
			'sub_title' => '',
			'summary' => 'March 28: China’s State Councilor and Foreign Minister Wang Yi wrapped up his three-day visit to Nepal and returned home on Sunday. ',
			'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri,&quot;sans-serif&quot;"><span style="font-family:&quot;Arial Unicode MS&quot;,&quot;sans-serif&quot;">March 28: China&rsquo;s State Councilor and Foreign Minister Wang Yi wrapped up his three-day visit to Nepal and returned home on Sunday.&nbsp;<br />
Foreign Secretary Bharat Raj Paudyal, China&rsquo;s Ambassador to Nepal, Hou Yanqi, Chief of Protocol Dr Durga Bahadur Subedi and senior officials at the Ministry of Foreign Affairs and the Embassy of China bade farewell to the special guest from the northern neighbor at Tribhuvan International Airport, the state-owned national news agency RSS reported.</span></span></span></p>

<p><span style="font-size:11pt"><span style="font-family:Calibri,&quot;sans-serif&quot;"><span style="font-family:&quot;Arial Unicode MS&quot;,&quot;sans-serif&quot;">Wang arrived in Nepal on Friday leading a 19-member delegation at the invitation of his Nepalese counterpart - Minister for Foreign Affairs Dr Narayan Khadka.&nbsp;&nbsp;&nbsp;&nbsp; </span><br />
<span style="font-family:&quot;Arial Unicode MS&quot;,&quot;sans-serif&quot;">During his stay in Nepal, the Chinese Minister separately called on President Bidya Devi Bhandari, Prime Minister Sher Bahadur Deuba and former Prime Ministers Pushpa Kamal Dahal and KP Sharma Oli, according to RSS.&nbsp;&nbsp;&nbsp;&nbsp;<br />
&nbsp;During the visit, the foreign ministry-level delegation from both the countries held a bilateral meeting on Saturday (March 26) and the officials from both sides signed nine different Memorandum of Understanding (MoUs) relating to the enhancement of mutual assistance.&nbsp;&nbsp;&nbsp;&nbsp; </span></span></span><br />
&nbsp;</p>
',
			'published' => true,
			'created' => '2022-03-28',
			'modified' => '2022-04-06',
			'keywords' => '',
			'description' => '',
			'sortorder' => '14746',
			'image' => '20220328094237_RS_KTM_008A4999.jpg',
			'article_date' => '2022-03-28 09:41:54',
			'homepage' => false,
			'breaking_news' => false,
			'main_news' => true,
			'in_scroller' => false,
			'user_id' => '34'
		)
	),
	(int) 2 => array(
		'Article' => array(
			'id' => '14935',
			'article_category_id' => '245',
			'title' => 'What are the Agendas of Nepal during upcoming Visit of Chinese Foreign Minister?',
			'sub_title' => '',
			'summary' => 'March 15: Nepal is preparing to raise the issues ranging from China’s Belt and Road Initiative (BRI) to the transshipment agenda during the upcoming visit of Chinese Foreign Minister Wang Yi.',
			'content' => '<p>Bijay Damase</p>

<p><span style="font-size:18px"><span style="font-family:Calibri,&quot;sans-serif&quot;">March 15: Nepal is preparing to raise the issues ranging from China&rsquo;s Belt and Road Initiative (BRI) to the transshipment agenda during the upcoming visit of Chinese Foreign Minister Wang Yi. </span></span></p>

<p><span style="font-size:18px"><span style="font-family:Calibri,&quot;sans-serif&quot;">The Government of Nepal is preparing its agenda in collaboration between the Ministry of Finance, the Ministry of Home Affairs, the Ministry of Culture, Tourism and Civil Aviation, the Ministry of Agriculture and Livestock Development and the Ministry of Industry Commerce and Supplies.</span></span></p>

<p><span style="font-size:18px"><span style="font-family:Calibri,&quot;sans-serif&quot;">According to the finance ministry, the Chinese foreign minister is visiting Nepal to discuss Nepal&rsquo;s plans under the Belt and Road Initiative proposed by the Chinese government.</span></span></p>

<p><span style="font-size:18px"><span style="font-family:Calibri,&quot;sans-serif&quot;">It has already been five years since Nepal signed the BRI. However, the two countries are yet to finalize the projects under the BRI.</span></span></p>

<p><span style="font-size:18px"><span style="font-family:Calibri,&quot;sans-serif&quot;">The Government of Nepal has proposed construction of roads, upgrading highways, feasibility study of Kerung-Kathmandu Railway, hydropower projects among others under the BRI framework. However, the two sides are yet to reach an understanding regarding implementation of these projects. </span></span></p>

<p><span style="font-size:18px"><span style="font-family:Calibri,&quot;sans-serif&quot;">The two countries had signed agreements for collaboration in 18 different sectors including transport network, physical infrastructure, agriculture, hydro power, education and health during the visit of Chinese President Xi Jinping on October 12, 2019.</span></span></p>

<p><span style="font-size:18px"><span style="font-family:Calibri,&quot;sans-serif&quot;">However, those agendas have not been implemented effectively by the two countries. The upcoming visit of Chinese Foreign Minister Wang is expected to expedite these agreements. </span></span></p>

<p><span style="font-size:18px"><span style="font-family:Calibri,&quot;sans-serif&quot;">The finance ministry has already prepared a preliminary draft of agendas to be discussed during Wang&rsquo;s visit. The draft has been submitted to the foreign ministry.</span></span></p>

<p><span style="font-size:18px"><span style="font-family:Calibri,&quot;sans-serif&quot;">According to an official of the finance ministry, the two sides will also discuss about the grant assistance of Rs 56 billion announced during the visit of Chinese President Xi. The Chinese president had pledged the amount to his Nepali counterpart during his two-day state visit to Nepal in October 2019. The two countries are yet to sign an agreement to receive the grant from China.</span></span></p>

<p><span style="font-size:18px"><span style="font-family:Calibri,&quot;sans-serif&quot;">The Government of Nepal is preparing its agenda to utilize the grant assistance from China for the President&rsquo;s Education Improvement Programme. </span></span></p>

<p><span style="font-size:18px"><span style="font-family:Calibri,&quot;sans-serif&quot;">Nepal will also urge the Chinese delegation for easy access of Nepali goods in the Chinese market.</span></span></p>

<p><span style="font-size:18px"><span style="font-family:Calibri,&quot;sans-serif&quot;">Nepal is still unable to export goods to China from Rasuwagadhi and Tatopani customs due to the obstruction in the wake of Covid-19 pandemic. Even the supply of goods from China is not smooth.</span></span></p>

<p><span style="font-size:18px"><span style="font-family:Calibri,&quot;sans-serif&quot;">Nepal&rsquo;s trade deficit with China will also be discussed during the meeting, said informed sources.</span></span></p>

<p><span style="font-size:18px"><span style="font-family:Calibri,&quot;sans-serif&quot;">The government is also preparing to sign a few agreements during the visit of Chinese foreign minister. </span></span></p>

<p><span style="font-size:18px"><span style="font-family:Calibri,&quot;sans-serif&quot;">While the government is preparing for the agenda during the visit, finance ministry is doing its homework to resolve some issues at the diplomatic level.</span></span></p>

<p><span style="font-size:18px"><span style="font-family:Calibri,&quot;sans-serif&quot;">Joint Secretary at the finance ministry Sewa Lamsal said that the ministry is making its preparations for various agendas including the relation between the two countries as well as business partnership. According to Lamsal, the Chinese foreign minister is likely to arrive in Nepal in late March.</span></span></p>

<p><span style="font-size:18px"><span style="font-family:Calibri,&quot;sans-serif&quot;">&ldquo;Diplomatic efforts are being made for the visit of Chinese foreign minister in the third or fourth week of March,&rdquo; said a source requesting anonymity. </span></span></p>

<p><span style="font-size:18px"><span style="font-family:Calibri,&quot;sans-serif&quot;">According to a source at the Ministry of Finance, the Chinese delegation led by Wang will arrive in Nepal on March 26 or March 27. </span></span></p>

<p><span style="font-size:18px"><span style="font-family:Calibri,&quot;sans-serif&quot;">Foreign Minister Dr Narayan Khadka, before leaving for Turkey last Tuesday, had instructed officials of the ministry to make preparations for the visit of the Chinese delegation. Chinese Ambassador to Nepal Hou Yanqi had informed Foreign Minister Khadka about the visit of his Chinese counterpart a day before he left for Turkey. </span></span></p>

<p><span style="font-size:18px"><span style="font-family:Calibri,&quot;sans-serif&quot;"><strong>What do experts say about the visit of Chinese foreign minister?</strong></span></span></p>

<p><span style="font-size:18px"><span style="font-family:Calibri,&quot;sans-serif&quot;">The BRI was initiated in 2013. Nepal faced economic blockade in 2015. Nepal decided to take part in the BRI after the blockade. Under the BRI framework, Nepal could utilize four Chinese ports while the Chinese side assured of helping Nepal in upgrading roads and to facilitate in fuel supply as well as to open 13/14 border points. However, there has been no progress in the last seven years. Experts say that Nepal must raise these issues effectively during the visit of the Chinese delegation.</span></span></p>

<p><span style="font-size:18px"><span style="font-family:Calibri,&quot;sans-serif&quot;">Analyst Hari Rokka says that the Nepali importers are facing problems due to the supply chain disruption from China. He says that the government must take initiative to open the border as per the aspirations of the business community. </span></span></p>

<p><span style="font-size:18px"><span style="font-family:Calibri,&quot;sans-serif&quot;">Rajendra Malla, president of Nepal Chamber of Commerce (NCC), says that there is a wide gap in trade deficit between Nepal and China. Exports from Nepal is almost nil while China is the second largest supplier behind India. He suggests the government of Nepal to raise the issue of trade deficit and to narrow the gap. </span></span></p>

<p><span style="font-size:18px"><span style="font-family:Calibri,&quot;sans-serif&quot;">Former secretary Puroshattam Ojha also suggests narrowing the gap in trade deficit between Nepal and China. &ldquo;The trade deficit is imbalanced. Nepal should strongly raise this issue during the upcoming meeting,&rdquo; says Ojha.</span></span></p>

<p><span style="font-size:18px"><span style="font-family:Calibri,&quot;sans-serif&quot;">He also said that the two countries signed agreement for transshipment of goods but the decision has not been implemented. &ldquo;No one knows how the transshipment will be done. This agenda must also be included during the visit,&rdquo; he added.</span></span></p>

<p>&nbsp;</p>
',
			'published' => true,
			'created' => '2022-03-15',
			'modified' => '2022-04-06',
			'keywords' => '',
			'description' => '',
			'sortorder' => '14677',
			'image' => '20220315073402_Flag-Pins-Nepal-China.jpg',
			'article_date' => '2022-03-15 19:33:17',
			'homepage' => false,
			'breaking_news' => false,
			'main_news' => true,
			'in_scroller' => false,
			'user_id' => '34'
		)
	)
)
$current_user = null
$logged_in = false
$xml = false
include - APP/View/Elements/side_bar.ctp, line 133
View::_evaluate() - CORE/Cake/View/View.php, line 971
View::_render() - CORE/Cake/View/View.php, line 933
View::_renderElement() - CORE/Cake/View/View.php, line 1224
View::element() - CORE/Cake/View/View.php, line 418
include - APP/View/Articles/index.ctp, line 157
View::_evaluate() - CORE/Cake/View/View.php, line 971
View::_render() - CORE/Cake/View/View.php, line 933
View::render() - CORE/Cake/View/View.php, line 473
Controller::render() - CORE/Cake/Controller/Controller.php, line 968
Dispatcher::_invoke() - CORE/Cake/Routing/Dispatcher.php, line 200
Dispatcher::dispatch() - CORE/Cake/Routing/Dispatcher.php, line 167
[main] - APP/webroot/index.php, line 117

Warning (2): simplexml_load_file() [<a href='http://php.net/function.simplexml-load-file'>function.simplexml-load-file</a>]: I/O warning : failed to load external entity &quot;&quot; [APP/View/Elements/side_bar.ctp, line 133]Code Context  //  $file = 'http://aabhiyan:QUVLg8Wzs2F7G9N7@nepalstock.com.np/api/subindexdata.xml';



    if(!$xml = simplexml_load_file($file)){
$viewFile = '/var/www/html/newbusinessage.com/app/View/Elements/side_bar.ctp'
$dataForView = array(
	'articles' => array(
		(int) 0 => array(
			'Article' => array(
				[maximum depth reached]
			)
		),
		(int) 1 => array(
			'Article' => array(
				[maximum depth reached]
			)
		),
		(int) 2 => array(
			'Article' => array(
				[maximum depth reached]
			)
		)
	),
	'current_user' => null,
	'logged_in' => false
)
$articles = array(
	(int) 0 => array(
		'Article' => array(
			'id' => '15006',
			'article_category_id' => '245',
			'title' => 'Nepal Expresses Concern Regarding High Interest Rate with China',
			'sub_title' => '',
			'summary' => 'March 28: The government held an in-depth discussion with Chinese authorities regarding the high rate of interest on loans from China during the three-day visit of Chinese State Councilor and Foreign Minister Wang Yi to Nepal.',
			'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri,&quot;sans-serif&quot;"><span style="font-size:12.0pt"><span style="font-family:&quot;Times New Roman&quot;,&quot;serif&quot;">March 28: The government held an in-depth discussion with Chinese authorities regarding the high rate of interest on loans from China during the three-day visit of Chinese State Councilor and Foreign Minister Wang Yi to Nepal. Showing special interest on this issue, Prime Minister Sher Bahadur Deuba urged Minister Wang to facilitate Nepal as it is a poor nation and cannot afford to take such expensive loan.&nbsp;</span></span></span></span></p>

<p><span style="font-size:11pt"><span style="font-family:Calibri,&quot;sans-serif&quot;"><span style="font-size:12.0pt"><span style="font-family:&quot;Times New Roman&quot;,&quot;serif&quot;">According to high-level sources in Baluwatar, Prime Minister Deuba said during the meeting that Nepal wanted to move ahead with projects under the much-talked-about Chinese Belt and Road Initiative (BRI). A source at the Prime Minister&#39;s Secretariat said that PM Deuba made it clear to the Chinese Foreign Minister that Nepal would take the loan only if China provided the grant under BRI but it cannot take the loan in the current situation.&nbsp;</span></span></span></span></p>

<p><span style="font-size:11pt"><span style="font-family:Calibri,&quot;sans-serif&quot;"><span style="font-size:12.0pt"><span style="font-family:&quot;Times New Roman&quot;,&quot;serif&quot;">A source at the Ministry of Finance said that the two countries did not sign any immediate agreement under the BRI framework during Wang&#39;s visit as the modalities of investment in the projects under BRI were not clear. A senior official at the finance ministry said that the government did not want to sign the agreement immediately but only after finalizing the modalities of China&#39;s assistance under the BRI framework.&nbsp; </span></span></span></span></p>

<p><span style="font-size:11pt"><span style="font-family:Calibri,&quot;sans-serif&quot;"><span style="font-size:12.0pt"><span style="font-family:&quot;Times New Roman&quot;,&quot;serif&quot;">&ldquo;The country&#39;s economy is deteriorating. There&rsquo;s an obligation to take loan for BRI. As the Chinese debt is expensive, the country cannot bear such heavy burden. Therefore, an agreement could not be reached in this regard,&rdquo; the official said.&nbsp;</span></span></span></span></p>

<p><span style="font-size:11pt"><span style="font-family:Calibri,&quot;sans-serif&quot;"><span style="font-size:12.0pt"><span style="font-family:&quot;Times New Roman&quot;,&quot;serif&quot;">A statement issued by the Ministry of Foreign Affairs did not mention anything about the nine projects previously planned to be built under the BRI concept of China.&nbsp;</span></span></span></span></p>

<p><span style="font-size:11pt"><span style="font-family:Calibri,&quot;sans-serif&quot;"><span style="font-size:12.0pt"><span style="font-family:&quot;Times New Roman&quot;,&quot;serif&quot;">Under the BRI project, China has invested heavily in most of the countries. The government of Nepal is alarmed as countries like Sri Lanka and Kazakhstan are facing difficulties to pay back the loans.&nbsp;</span></span></span></span></p>

<p><span style="font-size:11pt"><span style="font-family:Calibri,&quot;sans-serif&quot;"><span style="font-size:12.0pt"><span style="font-family:&quot;Times New Roman&quot;,&quot;serif&quot;">The statement issued by the Ministry of Foreign Affairs on the agreement reached during Foreign Minister Wang&#39;s visit did not even mention the name of the BRI framework. Nepal became a member of the BRI framework of China after signing the deal in 2017.&nbsp;Since then, not a single agreement under BRI has been implemented. China had been planning to sign the BRI Implementation Agreement between the two countries during Wang&rsquo;s visit to Nepal.&nbsp;</span></span></span></span></p>

<p><span style="font-size:11pt"><span style="font-family:Calibri,&quot;sans-serif&quot;"><span style="font-size:12.0pt"><span style="font-family:&quot;Times New Roman&quot;,&quot;serif&quot;">During a meeting with Foreign Minister Narayan Khadka on Saturday, the Chinese Foreign Minister said that the two countries would benefit from signing an agreement on the BRI implementation plan.&nbsp;</span></span></span></span></p>

<p><span style="font-size:11pt"><span style="font-family:Calibri,&quot;sans-serif&quot;"><span style="font-size:12.0pt"><span style="font-family:&quot;Times New Roman&quot;,&quot;serif&quot;">After signing the BRI agreement in May 2017, Nepal has already witnessed four different governments in the past five years. But Nepal hasn&rsquo;t had any concrete dialogue with China about moving ahead with the projects under the BRI.</span></span></span></span></p>

<p><span style="font-size:11pt"><span style="font-family:Calibri,&quot;sans-serif&quot;"><span style="font-size:12.0pt"><span style="font-family:&quot;Times New Roman&quot;,&quot;serif&quot;">In 2017, Nepal proposed 35 different projects under the BRI which was later reduced to 9 upon the request of China.</span></span></span></span></p>

<p>&nbsp;</p>

<p>&nbsp;</p>

<p><span style="font-size:11pt"><span style="font-family:Calibri,&quot;sans-serif&quot;">Those projects include Kerung-Kathmandu Railway, Rasuwagadhi-Kathmandu road upgrading project, Kimathanka-Hile road, Galchi-Rasuwagadhi-Krung 400 kVA transmission line, Tamor hydropower project, Madan Bhandari Technical Institute,Fukot Karnali hydropower project, road from Dipayal to Chinese border and construction of Tokha-Bidur road.</span></span></p>

<p><span style="font-size:11pt"><span style="font-family:Calibri,&quot;sans-serif&quot;">However, officials at the finance ministry say the government has not held any discussion with the Chinese side ever since the Deuba-led government was formed nine months ago.</span></span></p>

<p><span style="font-size:11pt"><span style="font-family:Calibri,&quot;sans-serif&quot;">Spokesperson of the finance ministry Sewa Lamsal says that the two countries are yet to complete their homework regarding the BRI agreement and therefore the projects under BRI will not be implemented anytime soon.</span></span></p>
',
			'published' => true,
			'created' => '2022-03-28',
			'modified' => '2022-04-06',
			'keywords' => '',
			'description' => '',
			'sortorder' => '14749',
			'image' => '20220328023943_RS_KTM_20220326_0188b.jpg',
			'article_date' => '2022-03-28 14:39:00',
			'homepage' => false,
			'breaking_news' => false,
			'main_news' => true,
			'in_scroller' => false,
			'user_id' => '34'
		)
	),
	(int) 1 => array(
		'Article' => array(
			'id' => '15004',
			'article_category_id' => '245',
			'title' => 'Chinese Foreign Minister Wang Wraps up his 3-Day Visit to Nepal',
			'sub_title' => '',
			'summary' => 'March 28: China’s State Councilor and Foreign Minister Wang Yi wrapped up his three-day visit to Nepal and returned home on Sunday. ',
			'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri,&quot;sans-serif&quot;"><span style="font-family:&quot;Arial Unicode MS&quot;,&quot;sans-serif&quot;">March 28: China&rsquo;s State Councilor and Foreign Minister Wang Yi wrapped up his three-day visit to Nepal and returned home on Sunday.&nbsp;<br />
Foreign Secretary Bharat Raj Paudyal, China&rsquo;s Ambassador to Nepal, Hou Yanqi, Chief of Protocol Dr Durga Bahadur Subedi and senior officials at the Ministry of Foreign Affairs and the Embassy of China bade farewell to the special guest from the northern neighbor at Tribhuvan International Airport, the state-owned national news agency RSS reported.</span></span></span></p>

<p><span style="font-size:11pt"><span style="font-family:Calibri,&quot;sans-serif&quot;"><span style="font-family:&quot;Arial Unicode MS&quot;,&quot;sans-serif&quot;">Wang arrived in Nepal on Friday leading a 19-member delegation at the invitation of his Nepalese counterpart - Minister for Foreign Affairs Dr Narayan Khadka.&nbsp;&nbsp;&nbsp;&nbsp; </span><br />
<span style="font-family:&quot;Arial Unicode MS&quot;,&quot;sans-serif&quot;">During his stay in Nepal, the Chinese Minister separately called on President Bidya Devi Bhandari, Prime Minister Sher Bahadur Deuba and former Prime Ministers Pushpa Kamal Dahal and KP Sharma Oli, according to RSS.&nbsp;&nbsp;&nbsp;&nbsp;<br />
&nbsp;During the visit, the foreign ministry-level delegation from both the countries held a bilateral meeting on Saturday (March 26) and the officials from both sides signed nine different Memorandum of Understanding (MoUs) relating to the enhancement of mutual assistance.&nbsp;&nbsp;&nbsp;&nbsp; </span></span></span><br />
&nbsp;</p>
',
			'published' => true,
			'created' => '2022-03-28',
			'modified' => '2022-04-06',
			'keywords' => '',
			'description' => '',
			'sortorder' => '14746',
			'image' => '20220328094237_RS_KTM_008A4999.jpg',
			'article_date' => '2022-03-28 09:41:54',
			'homepage' => false,
			'breaking_news' => false,
			'main_news' => true,
			'in_scroller' => false,
			'user_id' => '34'
		)
	),
	(int) 2 => array(
		'Article' => array(
			'id' => '14935',
			'article_category_id' => '245',
			'title' => 'What are the Agendas of Nepal during upcoming Visit of Chinese Foreign Minister?',
			'sub_title' => '',
			'summary' => 'March 15: Nepal is preparing to raise the issues ranging from China’s Belt and Road Initiative (BRI) to the transshipment agenda during the upcoming visit of Chinese Foreign Minister Wang Yi.',
			'content' => '<p>Bijay Damase</p>

<p><span style="font-size:18px"><span style="font-family:Calibri,&quot;sans-serif&quot;">March 15: Nepal is preparing to raise the issues ranging from China&rsquo;s Belt and Road Initiative (BRI) to the transshipment agenda during the upcoming visit of Chinese Foreign Minister Wang Yi. </span></span></p>

<p><span style="font-size:18px"><span style="font-family:Calibri,&quot;sans-serif&quot;">The Government of Nepal is preparing its agenda in collaboration between the Ministry of Finance, the Ministry of Home Affairs, the Ministry of Culture, Tourism and Civil Aviation, the Ministry of Agriculture and Livestock Development and the Ministry of Industry Commerce and Supplies.</span></span></p>

<p><span style="font-size:18px"><span style="font-family:Calibri,&quot;sans-serif&quot;">According to the finance ministry, the Chinese foreign minister is visiting Nepal to discuss Nepal&rsquo;s plans under the Belt and Road Initiative proposed by the Chinese government.</span></span></p>

<p><span style="font-size:18px"><span style="font-family:Calibri,&quot;sans-serif&quot;">It has already been five years since Nepal signed the BRI. However, the two countries are yet to finalize the projects under the BRI.</span></span></p>

<p><span style="font-size:18px"><span style="font-family:Calibri,&quot;sans-serif&quot;">The Government of Nepal has proposed construction of roads, upgrading highways, feasibility study of Kerung-Kathmandu Railway, hydropower projects among others under the BRI framework. However, the two sides are yet to reach an understanding regarding implementation of these projects. </span></span></p>

<p><span style="font-size:18px"><span style="font-family:Calibri,&quot;sans-serif&quot;">The two countries had signed agreements for collaboration in 18 different sectors including transport network, physical infrastructure, agriculture, hydro power, education and health during the visit of Chinese President Xi Jinping on October 12, 2019.</span></span></p>

<p><span style="font-size:18px"><span style="font-family:Calibri,&quot;sans-serif&quot;">However, those agendas have not been implemented effectively by the two countries. The upcoming visit of Chinese Foreign Minister Wang is expected to expedite these agreements. </span></span></p>

<p><span style="font-size:18px"><span style="font-family:Calibri,&quot;sans-serif&quot;">The finance ministry has already prepared a preliminary draft of agendas to be discussed during Wang&rsquo;s visit. The draft has been submitted to the foreign ministry.</span></span></p>

<p><span style="font-size:18px"><span style="font-family:Calibri,&quot;sans-serif&quot;">According to an official of the finance ministry, the two sides will also discuss about the grant assistance of Rs 56 billion announced during the visit of Chinese President Xi. The Chinese president had pledged the amount to his Nepali counterpart during his two-day state visit to Nepal in October 2019. The two countries are yet to sign an agreement to receive the grant from China.</span></span></p>

<p><span style="font-size:18px"><span style="font-family:Calibri,&quot;sans-serif&quot;">The Government of Nepal is preparing its agenda to utilize the grant assistance from China for the President&rsquo;s Education Improvement Programme. </span></span></p>

<p><span style="font-size:18px"><span style="font-family:Calibri,&quot;sans-serif&quot;">Nepal will also urge the Chinese delegation for easy access of Nepali goods in the Chinese market.</span></span></p>

<p><span style="font-size:18px"><span style="font-family:Calibri,&quot;sans-serif&quot;">Nepal is still unable to export goods to China from Rasuwagadhi and Tatopani customs due to the obstruction in the wake of Covid-19 pandemic. Even the supply of goods from China is not smooth.</span></span></p>

<p><span style="font-size:18px"><span style="font-family:Calibri,&quot;sans-serif&quot;">Nepal&rsquo;s trade deficit with China will also be discussed during the meeting, said informed sources.</span></span></p>

<p><span style="font-size:18px"><span style="font-family:Calibri,&quot;sans-serif&quot;">The government is also preparing to sign a few agreements during the visit of Chinese foreign minister. </span></span></p>

<p><span style="font-size:18px"><span style="font-family:Calibri,&quot;sans-serif&quot;">While the government is preparing for the agenda during the visit, finance ministry is doing its homework to resolve some issues at the diplomatic level.</span></span></p>

<p><span style="font-size:18px"><span style="font-family:Calibri,&quot;sans-serif&quot;">Joint Secretary at the finance ministry Sewa Lamsal said that the ministry is making its preparations for various agendas including the relation between the two countries as well as business partnership. According to Lamsal, the Chinese foreign minister is likely to arrive in Nepal in late March.</span></span></p>

<p><span style="font-size:18px"><span style="font-family:Calibri,&quot;sans-serif&quot;">&ldquo;Diplomatic efforts are being made for the visit of Chinese foreign minister in the third or fourth week of March,&rdquo; said a source requesting anonymity. </span></span></p>

<p><span style="font-size:18px"><span style="font-family:Calibri,&quot;sans-serif&quot;">According to a source at the Ministry of Finance, the Chinese delegation led by Wang will arrive in Nepal on March 26 or March 27. </span></span></p>

<p><span style="font-size:18px"><span style="font-family:Calibri,&quot;sans-serif&quot;">Foreign Minister Dr Narayan Khadka, before leaving for Turkey last Tuesday, had instructed officials of the ministry to make preparations for the visit of the Chinese delegation. Chinese Ambassador to Nepal Hou Yanqi had informed Foreign Minister Khadka about the visit of his Chinese counterpart a day before he left for Turkey. </span></span></p>

<p><span style="font-size:18px"><span style="font-family:Calibri,&quot;sans-serif&quot;"><strong>What do experts say about the visit of Chinese foreign minister?</strong></span></span></p>

<p><span style="font-size:18px"><span style="font-family:Calibri,&quot;sans-serif&quot;">The BRI was initiated in 2013. Nepal faced economic blockade in 2015. Nepal decided to take part in the BRI after the blockade. Under the BRI framework, Nepal could utilize four Chinese ports while the Chinese side assured of helping Nepal in upgrading roads and to facilitate in fuel supply as well as to open 13/14 border points. However, there has been no progress in the last seven years. Experts say that Nepal must raise these issues effectively during the visit of the Chinese delegation.</span></span></p>

<p><span style="font-size:18px"><span style="font-family:Calibri,&quot;sans-serif&quot;">Analyst Hari Rokka says that the Nepali importers are facing problems due to the supply chain disruption from China. He says that the government must take initiative to open the border as per the aspirations of the business community. </span></span></p>

<p><span style="font-size:18px"><span style="font-family:Calibri,&quot;sans-serif&quot;">Rajendra Malla, president of Nepal Chamber of Commerce (NCC), says that there is a wide gap in trade deficit between Nepal and China. Exports from Nepal is almost nil while China is the second largest supplier behind India. He suggests the government of Nepal to raise the issue of trade deficit and to narrow the gap. </span></span></p>

<p><span style="font-size:18px"><span style="font-family:Calibri,&quot;sans-serif&quot;">Former secretary Puroshattam Ojha also suggests narrowing the gap in trade deficit between Nepal and China. &ldquo;The trade deficit is imbalanced. Nepal should strongly raise this issue during the upcoming meeting,&rdquo; says Ojha.</span></span></p>

<p><span style="font-size:18px"><span style="font-family:Calibri,&quot;sans-serif&quot;">He also said that the two countries signed agreement for transshipment of goods but the decision has not been implemented. &ldquo;No one knows how the transshipment will be done. This agenda must also be included during the visit,&rdquo; he added.</span></span></p>

<p>&nbsp;</p>
',
			'published' => true,
			'created' => '2022-03-15',
			'modified' => '2022-04-06',
			'keywords' => '',
			'description' => '',
			'sortorder' => '14677',
			'image' => '20220315073402_Flag-Pins-Nepal-China.jpg',
			'article_date' => '2022-03-15 19:33:17',
			'homepage' => false,
			'breaking_news' => false,
			'main_news' => true,
			'in_scroller' => false,
			'user_id' => '34'
		)
	)
)
$current_user = null
$logged_in = false
$xml = false
simplexml_load_file - [internal], line ??
include - APP/View/Elements/side_bar.ctp, line 133
View::_evaluate() - CORE/Cake/View/View.php, line 971
View::_render() - CORE/Cake/View/View.php, line 933
View::_renderElement() - CORE/Cake/View/View.php, line 1224
View::element() - CORE/Cake/View/View.php, line 418
include - APP/View/Articles/index.ctp, line 157
View::_evaluate() - CORE/Cake/View/View.php, line 971
View::_render() - CORE/Cake/View/View.php, line 933
View::render() - CORE/Cake/View/View.php, line 473
Controller::render() - CORE/Cake/Controller/Controller.php, line 968
Dispatcher::_invoke() - CORE/Cake/Routing/Dispatcher.php, line 200
Dispatcher::dispatch() - CORE/Cake/Routing/Dispatcher.php, line 167
[main] - APP/webroot/index.php, line 117

file not found!

Latest

173 People Die in Disaster Incidents since June 10

Crusher Federation Urges PM Oli for Industry Renewal

Prime Minister Calls for Enhancing 'Hello Sarkar' Service

Bardiya National Park Sees Increase in Tourist Arrivals

Experts, Manpower Agencies at Odds Over Draft of Labour Migration Policy

Lower Seti Hydropower Project Acquires o500 Ropanis of Land

Government Proposes Formation of New Authority to Regulate Cooperatives

Sugar Prices Surge ahead of Festive Season amid Govt’s Failure to Import Sugar

BFIN to Host Conference in Kathmandu on Wednesday

Price of Gold Reaches All-Time High in Nepal

FOREX

Currency	Unit	Buy	Sell
U.S. Dollar	1	121.23	121.83
European Euro	1	131.65	132.31
UK Pound Sterling	1	142.47	143.18
Swiss Franc	1	124.29	124.90
Australian Dollar	1	71.69	72.05
Canadian Dollar	1	83.90	84.32
Japanese Yen	10	10.94	11.00
Chinese Yuan	1	17.17	17.26
Saudi Arabian Riyal	1	32.27	32.43
UAE Dirham	1	33.01	33.17
Malaysian Ringgit	1	27.36	27.50
South Korean Won	100	9.77	9.82

Update: 2020-03-25 | Source: Nepal Rastra Bank (NRB)

Bullion

Fine Gold	1 tola	77000.00
Tejabi Gold	1 tola	76700.00
Silver	1 tola	720.00

Update : 2020-03-25

Source: Federation of Nepal Gold and Silver Dealers' Association

Petroleum

Petrol	1 Liter	106.00
Diesel	1 Liter	95.00
Kerosene	1 Liter	95.00
LP Gas	1 Cylinder	1375.00