China’s Belt and Road Initiative Decade: “Nepal’s Experience” Conference was held on 16th March 2023 at Kathmandu.
Photo by Bishal Shrestha(SATV)
Deputy Prime Minister Narayan Kaji Shrestha, Deputy General Secretary, CPN-UML Pradeep Kumar Gyawali, Former ambassador of Nepal to People’s Republic of China Leela Mani Paudyal, Ambassador of the People's Republic of China to Nepal Chen Song, General Secretary of Friends of Silk Road Club- Nepal Kalyan Raj Sharma and more than 130 People from all walks of life attended the program.
The main objective of the conference is to bring together policy makers, experts, researchers, private sector and other relevant stakeholders to discuss the ten significant years of the Belt and Road Initiative and to identify the opportunities it may bring to Nepal for its economic and social development.
Photo by Bishal Shrestha(SATV)
The Belt and Road Initiative is a global infrastructure development strategy adopted by the Chinese government in 2013 to invest in more than 150 countries and international organizations. It is considered a centerpiece of the Chinese leader Xi Jinping's foreign policy. As of January 2023, 151 countries and 32 international organizations were listed as having signed up to the BRI.
Nepal formally joined the Belt and Road Initiative after signing a Memorandum of Understanding (MoU) on bilateral cooperation under the Belt and Road Initiative framework in May, 2017. Back then it was hailed as “an important milestone in the Nepal-China relationship, bringing bilateral ties to a new height.”
During K P Sharma Oli’s visit to China in June, 2018, Nepal agreed to intensify implementation of the MoU under the Belt and Road Initiative to enhance connectivity through ports, roads, railways, aviation and communications within the overarching framework of trans-Himalayan Multi-Dimensional Connectivity Network. Chinese President Xi Jinping visited Kathmandu in October 2019 to expedite the BRI ventures.
The conference today was held to bring together policy makers, experts, researchers, private sector and other relevant stakeholders to discuss the ten significant years of the Belt and Road Initiative and to identify the opportunities it may bring to Nepal for its economic and social development.
Photo by Bishal Shrestha(SATV)
Dr. Kalyan Raj Sharma, general secretary of Friends of Silk Road Club Nepal disclosed that the Nepal only has 3.24% towards China, of the total loan Nepal carries which fails the outspread rumors and concept of Nepal being pushed into debt trap and consequently to submission of nation to China .
Photo by Bishal Shrestha(SATV)
His Excellency Mr. Leela Mani Paudel, former ambassador of Nepal to People's Republic of China gives a description of International Co-operation Forum proposal in which China focuses on uninterrupted trade and investment for shared destiny and shared profit but not an economically dominant hegemonical agreement.
He further adds about an unusual point of agreement saying, "Our destiny in South East Asia is to be built by ourselves. We are the decision makers of our destiny. An outsider should not be allowed to play the role of decision maker".
He lists out eight development projects proposals taken by Nepal to BRI among which China- Nepal Cross Boarder Railway Project is progressing fully with China's subsidy, Kohalpur Road ways project and Kimaa thanga cross boarder project has also shown no progress.
"China's agreement has shown not a debt trap but an opportunity because our agreement, action and reality shows it but in case of mindset we take the borrowing of American idea and claim it to be debt trap", he elucidates.
He adds, Asian Development Bank which Nepal has been one of the founding nations of, has given threats to Western countries by investing in change of developing nations of Asia into developed.
He specifically explains on how Nepal Transit Transport agreement is a Strategic importance project and Cross boarder railway is substantive. Nepal had faced blockade 3 times in history and still hasn't come into its consciousness.Nepal is a landlocked country. So he foresights, Nepal will still face it, if the economically viable and functional Trans Himalayan Connectivity Agreement won't be given enough attention towards North.
"No country will be in crisis by taking loans because the source of loan doesn't matter but if we eat ghee by taking loans, we will surely fall into debt trap", said His Excellency Former Ambassador of Nepal to People's Republic of China, Mr. Leela Mani Paudel. He clarifies, Sri Lanka is facing a debt trap by using the loan in buying weapon rather in any developmental project.
Photo by Bishal Shrestha(SATV)
His Excellency Mr. Cheng song, ambassador of People's Republic of China to Nepal gives us a fact data that the two-way trade volume between China and Nepal increased by 28.3 percent to Rs. 234.94 billion in 2020/21.
Photo by Bishal Shrestha(SATV)
His Excellency Narayan kaji Shrestha, Deputy Prime Minister was the chief guest of the event. He addresses, "Trans- Himalayan Connectivity" would be the most profitable to Nepal. The railways line connecting Kerung to Kathmandu has been given the top most priority by BRI which opens Nepalese products to Chinese market giving growth and development to Nepal's economy."
Photo by Bishal Shrestha(SATV)
Mr. Pradip Kumar Gyawali, Deputy General Secretary of CPN - UML expresses China's assurance of never intend interfering nations with geographical hegemonical ambitions because China has experienced and suffered it by themselves. It focuses on Green Economy Development especially on Sagarmatha along with other Himalayan region.
"The better Nepal can connect the stagnant economy of Nepal to the world, the faster the door of opportunity will be opened. Therefore, the faster we would be able to materialize the connectivity proposal, the faster Nepal can benefit from it", says Gyawali. (End)
