Nepal is willing to participate in China's ambitious "One Belt, One Road" initiative, Prime Minister Prachanda said today, expressing confidence that the development project could benefit the land-locked country.
Prime Minister Pushpa Kamal Dahal told visiting Chinese Minister of State for Industry and Administration Zhang Mao that Nepal wants to actively take part in the initiative and benefit from the endeavour, according to sources at the Prime Minister's office.
China's proposed "One Belt, One Road" initiative, a pet project of President Xi Jinping, aims to link the economic circles in East Asia and Europe, connecting China - on land and over water - to partners in Asia, Europe and Africa.
The initiative known as the revival of the ancient Silk Road trading route would link Asian markets with economic groups in Europe.
With nearly three billion people inhabiting areas covered by the proposed economic belt, it represents the biggest market in the world with unparalleled potential.
Chinese President Xi first introduced the conceptin 2013 during his visit to Kazakhstan.
During the meeting with the Chinese minister, Prachanda also welcomed signing of an agreement relating to the protection of intellectual property between the two countries.
Zhang lauded timely implementation of Nepal-China joint projects and also expressed happiness over creating conducive environment for Chinese companies to work in Nepal.
During a separate meeting with Nepalese minister for Industry Navindar Raj Joshi, Jhang said Nepal could benift from the economic progress of its northern neighbour.
They also discussed issues regarding Nepal-China relations and Chinese support for overall economic development of Nepal, according to sources close to Joshi.
During the meeting, Joshi sought China's support in constructing special economic zone (SEZ) infrastructures in northern borders of Nepal.
In response, Zhang said the Chinese investors were eager to invest in Nepal.
The Chinese government also offered assistance to Nepal in introducing the Chinese technology in the country's cottage and small industry sector, he said.
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