China's OBOR team in Nepal to promote business

A high-level Chinese delegation held talks with Nepal's business leaders and discussed investment opportunities in the country under the One Belt One Road initiative.

The 20-member delegation led by Shu Ya, founder of One Belt One Road (OBOR) International Platform of China held talks with the Nepalese business community on Monday on attracting Chinese investment in Nepal under the framework of the OBOR, according to sources close to OBOR-Nepal Chapter.

The OBOR International Trade and Investment Platform is a mutual exchange platform of global purchasers and suppliers established to promote Chinese President Xi Jinping's ambitious OBOR initiative.

Last year, Nepal inked a major deal with China to join the OBOR initiative to link Asia with Europe.

During the meeting, the representatives of Nepalese business community asked the OBOR delegation to increase investment in Nepal's energy and infrastructure sector as well as tourism and agriculture.

Bhawani Rana, Chairperson of Federation of Nepal Chamber of Commerce and Industries (FNCCI), asked the delegation to contribute for Nepal's economic prosperity through increasing investment under the OBOR framework as the investment climate has improved significantly with the establishment of new communist government in Nepal.

Also, a Memorandum of Understanding was signed between by the OBOR Platform Federation of Handicraft Association of Nepal with a view to promote Nepali handicraft products to China under the banner of OBOR Platform.

The Platform has earlier signed MoU with various trade related bodies to promote Nepal's Pashmina, wild honey, a Nepali wine and Himalayan Nettle.