The Nepal government is not signing an agreement with China on the implementation of the Belt and Road Initiative (BRI) project right away.
It was reported that the BRI implementation project would be signed during Foreign Minister Narayan Kaji Shrestha’s imminent China visit.
Even though the Nepal government expressed interest in China's BRI by signing a framework agreement in 2017, it has not yet finalized a specific agreement with China to implement BRI projects within the country.
Earlier, the Nepal government had floated a proposal including nine projects with China under the BRI.
Even though the BRI was discussed in the cabinet meeting this morning, no decisions were taken on it, a minister said.
“The BRI implementation agreement will not be signed during the Foreign Minister Shrestha’s upcoming China visit. Minister Shrestha is not going to sign the agreement,’ a minister said emerging from the meeting, “But it will be signed in an appropriate time in future.”
Nepal's Foreign Minister, after holding talks with ambassadors from a dozen countries, has emphasized the importance of a foreign policy based on national consensus.
Shrestha has hinted at taking the geopolitics-related projects including MCC and BRI forward after reaching national consensus. Foreign Minister Shrestha is scheduled to go to Beijing via Guangzhou on March 24.
Earlier, there had been preparations to sign the BRI during a bilateral meeting with Chinese counterpart Wang Yi on March 25.
Prime Minister Pushpa Kamal Dahal ‘Prachanda’ who formed a new ruling coalition including CPN (UML) and Rastriya Swatantra Party wants to reach an agreement with China on the implementation of BRI projects in the country.
It is learnt that a draft of BRI implementation agreement was given to the Chinese Ambassador after Prime Minister Prachanda directed to make preparations, accordingly.
Preparations had been made to sign the agreement during Foreign Minister Shrestha’s China visit.
Sources have claimed that it may have been postponed for the time being following widespread pressures on Prime Minister Prachanda to not proceed with the BRI.
