Context:
Nepal and China sign the Cooperation Framework of the Belt and Road Initiative.
Key Highlights:
- The agreement is expected to facilitate BRI project implementation.
The deal was signed during the first official visit of Prime Minister K P Sharma Oli to China. - Oli reflects on his bilateral talks with Premier Li Qiang, NPC Chairman Zhang Leji, and President Xi Jinping.
- He expects that the BRI Framework Cooperation would strengthen economic cooperation between Nepal and China.
China’s Belt and Road Initiative (BRI)
- Launched in 2013, the BRI is aimed at enhancing global connectivity and cooperation.
- It comprises the Silk Road Economic Belt and the Maritime Silk Road.
- The Silk Road Economic Belt enhances connectivity, infrastructure, and trade ties in Eurasia.
- The Maritime Silk Road targets maritime connections and cooperation.
