China seeks trade pact and investment safeguards in Nepal
Summary
China has proposed a Bilateral Investment Agreement and a Free Trade Agreement with Nepal to boost and protect its investments, urging Nepal to learn from China's economic reforms and establish better facilities for Chinese investors.
Key Points
- China has proposed signing a Bilateral Investment Agreement (BIA) and a Free Trade Agreement (FTA) with Nepal to safeguard and promote Chinese investments.
- Chinese Vice Minister for Commerce Yan Dong urged Nepal to establish a one-stop service center for Chinese businesses and to consider lessons from China's 1978 economic liberalisation policy.
- Nepal and China have discussed expanding infrastructure projects and trade cooperation, with China supporting Nepal's participation in trade fairs and border infrastructure development.
- The proposed agreements include investor protection, investment promotion, and cooperation in WTO mechanisms, with Nepal open to negotiations after reviewing China's draft.
