As 2024 draws to a close, China and Nepal are embarking on a new chapter in their longstanding friendship. A number of high-level Nepalese officials are visiting China to explore fresh prospects for bilateral relations, signaling a mutual commitment to deeper cooperation.
Nepalese Prime Minister KP Sharma Oli is scheduled to begin a visit to China on Monday. Meanwhile, Foreign Minister Arzu Rana Deuba is already in southwest China’s Sichuan Province for the 5th China-Central Asia Foreign Ministers’ Meeting.
Oli’s delegation includes about 48 private sector representatives, a clear indication that both countries are eager to expand trade ties. The focus on economic collaboration underscores the shared vision of prosperity and development between China and Nepal.
In September, Chinese Foreign Minister Wang Yi met with Prime Minister Oli on the sidelines of the UN General Assembly session in New York. Wang Yi emphasized that China has always placed Nepal at an important position in its neighborhood diplomacy. In 2019, the two countries upgraded their relations to a strategic partnership of cooperation featuring ever-lasting friendship for development and prosperity, marking a significant step forward in bilateral cooperation.
Zero Tariffs Open New Doors
China’s decision to grant zero-tariff treatment to 100 percent of tariff items from all the least developed countries having diplomatic relations with China will greatly benefit Nepal. Wang Yi highlighted that this policy will facilitate more Nepalese specialty products entering the Chinese market.
Ahead of Nepal’s major festivals, Dashain and Tihar, which take place in mid-October and November, imports from China have surged. Garments, footwear, electronic items, smartphones, and electric vehicles are among the goods crossing through the Rasuwagadhi and Tatopani border points.
“We’re seeing good growth in trade through Rasuwagadhi border point in the last two months,” said Rabindra Prasad Pyakurel, information officer at Rasuwa Customs Office. There’s been a remarkable 70 percent rise in trade during the first two months of Nepal’s current 2024-25 fiscal year starting in mid-July.
A Shared Future Rooted in History
The economic partnership between China and Nepal is underpinned by a deep-rooted people-to-people relationship that spans thousands of years. While diplomatic relations were formally established on August 1, 1955, the bonds between the two peoples date back to ancient times.
Both societies share a rich history of civilization and uphold virtues such as compassion, honesty, nonviolence, sacrifice, and harmony, principles preached by Shakyamuni Buddha and Confucius. This shared cultural heritage lays a strong foundation for the two countries to build a shared future.
As high-level visits continue and economic ties strengthen, China and Nepal are poised to deepen their strategic partnership, fostering development and prosperity for both nations.
Reference(s):
China-Nepal ties: Strong friendship, zero tariffs, shared future
cgtn.com
