Nepal wants to reap maximum benefits from China's Belt and Road Initiative: FM

KATHMANDU - Nepali Minister for Foreign Affairs Krishna Bahadur Mahara said Tuesday that his country wants to reap maximum benefits from the China-proposed Belt and Road Initiative.

Unveiling a policy document of the Ministry of Foreign Affairs, the minister said: "Nepal-China relations have remained cordial over the years and the government is working to implement all bilateral agreements reached with China."

Mahara said that the government has formed mechanisms to accelerate the development projects under the framework of the Belt and Road Initiative.

"We want to reap benefits from the Belt and Road Initiative," he said.

Such mechanisms are composed of senior government officials from different government ministries, including foreign affairs, finance, energy, industry, commerce, among others, according to the minister.

"We are committed to pushing forward Nepal-China cooperation under the framework of the Belt and Road Initiative," he said.

Nepal and China reached a Memorandum of Understanding (MoU) on bilateral cooperation under the framework of the Belt and Road Initiative on May 12 this year.

The Belt and Road Initiative, announced by China in 2013, is aimed at building a trade and infrastructure network connecting Asia with Europe and Africa along the ancient trade routes.