Sources following discussions between Nepal and China have revealed that the immediate signing of the implementation agreement for the Belt and Road Initiative (BRI) with China is unlikely.
The subject of the agreement was broached during Foreign Minister Narayankaji Shrestha’s recent visit to China, which commenced on March 24.
Despite Nepal’s participation in China’s ambitious BRI project, a finalized implementation agreement has not yet been reached.
Nepal initially proposed nine projects under the BRI umbrella.
Following a cabinet meeting earlier today, a government minister disclosed that although the BRI agreement was deliberated upon, no decisive action was taken.
A minister who attended the cabinet meeting stated, “There will be no immediate agreement on BRI during the current visit of our foreign minister to China. His trip to Beijing isn’t primarily centered on negotiating the BRI agreement.”
Foreign Minister Shrestha, since assuming office, has stressed the importance of forging a national consensus on foreign policy, particularly regarding geopolitically significant projects such as the Millennium Challenge Corporation (MCC) and the BRI.
Scheduled to meet Chinese Foreign Minister Wang Yi in Beijing on March 26, Foreign Minister Shrestha’s itinerary also included discussions on the BRI agreement between Nepal and China.
Reports suggest that Prime Minister Pushpa Kamal Dahal Prachanda, after realigning with the CPN-UML, has expressed eagerness to finalize the BRI agreement with China.
Allegedly, following the Prime Minister’s directive, the draft of the ‘BRI Implementation Agreement’ was recently submitted to the Chinese ambassador.
While initially planned for signing during Foreign Minister Shrestha’s visit, the agreement might face postponement due to mounting pressure on Prime Minister Dahal to reconsider proceeding with the BRI.
