Nepal and China have signed agreements in areas of free trade, transit transport, connectivity, financial cooperation during the official visit of Prime Minister KP Sharma Oli.

The two countries issued a 15-point joint statement after PM Oli wrapped his Beijing visit.  China has agreed to build oil storage facilities for Nepal, and send experts to Nepal to carry out feasibility study on oil and gas resources research.  

Earlier on Monday, Nepal signed an agreement with China to use transit facilities for third country trade by using the ports of the northern neighbour.

He will go to Boao Forum for Asia Annual Conference 2016 and visit Xi’an of Shan’xi Province and Chengdu of Sichuan Province.

In Joint the statement, Nepal and China agreed to strengthen connectivity, further step up the land and air links and improve the land transport infrastructure. The Chinese side agreed to accelerate the feasibility study on the Araniko Highway Repair and Opening Maintenance Project and the Repair and Opening Maintenance Project of Syaphrubesi-Rasuwagadhi Highway, build the bridge over Karnali River at Hilsa of Pulan/Yari port.

Nepal has requested China to provide assistance for the preparation of Detailed Project Report (DPR) and construction of a dedicated two lanes Kimathanka-Khandbari-Dhankuta Road and upgrade Kathmandu Ring Road 2nd Phase, while the Chinese side has agreed to provide financial support on preferential terms for Pokhara Regional International Airport.

Below is the full text of the joint statement: