The China-Nepal romance
In 2016, Nepal’s PM KP Oli visited China. Both signed three dozen pacts, agreements and MOUs, including the Transit and Transport Agreement.
China has provided 3 billion Yuan for Nepal’s Reconstruction to be used in the jointly selected 25 major projects for 2016-2018 period.
In 2015/16, total exports to China stood at US$ 181 million. In contrast, import from China has been growing at the rate of 39% per year. It rose from US$ 421 million in fiscal year 2009/10 to US$ 1,247 million in 2015/16.
China has emerged as the largest source of foreign direct investment in Nepal. Chinese investors have shown intent to spend over $8.3 billion in Nepal during the Nepal Investment Summit concluded in Kathmandu in March 2017.
In 2015/16, total exports to China stood at US$ 181 million. In contrast, import from China has been growing at the rate of 39% per year. It rose from US$ 421 million in fiscal year 2009/10 to US$ 1,247 million in 2015/16.
China is the 2nd largest source of foreign tourist to Nepal. Over 100 thousands people visit Nepal annually.
Nepal is the founding member of the AIIB. Nepal holds the observer status in the Shanghai Cooperation Organization.