Nepal urges China to ease fuel importNepal has urged China to ease the process of importing petroleum products from the northern neighbour.
Nepal has urged China to ease the process of importing petroleum products from the northern neighbour.
The request was made by a visiting Nepali delegation led by Parliamentary Industry, Commerce and Consumer Welfare Committee Chairman Bhishma Raj Angdambe,
who met Chinese State Minister for Industry and Commerce Chang Mao in Beijing on Thursday.
Nepal imports petroleum products only from India’s Indian Oil Corporation. The need for diversifying the fuel import source was felt following four-and-a-half-month trade embargo imposed by India last year, which resulted in an acute fuel shortage, creating panic among Nepalis.
On October 29, 2015, Nepal signed a historic memorandum of understanding on oil trade with China. However, the plan to import fuel from China fell apart after Nepal failed to settle a number of issues such as taxes and price.
Thursday’s bilateral meeting also discussed the prospect of Chinese investment in areas such as agriculture, manufacturing, tourism, hydroelectricity and infrastructure. During the meeting, Minister Chang said China was positive about helping Nepal, appreciating Nepal’s support for “One China Policy”, read a press statement issued by Nepali Embassy in China.