Nepal, China sign three agreements

Kathmandu, Aug 16 (IANS)  Related to economic and technical cooperation, promotion of Chinese investment and economic cooperation, as well as oil and gas exploration in Nepal,  Nepal and China have signed three agreements.

The deals were signed on Tuesday after delegation-level talks between Deputy Prime Minister and Minister for Local Development Bijaya Kumar Gachhadar and visiting Chinese Vice Premier Wang Yang, the Kathmandu Post reported.

The two sides formalised the Nepali Rs 16 billion ($149,365,200) Chinese aid for reconstruction of the Kodari Highway announced in 2015. 

Chinese President Xi Jinping had announced an aid to upgrade the 115-km Araniko Highway that links Nepal with China, and to develop the transport infrastructure which was devastated by the earthquakes.

The amount will be spent on construction of a bridge in Rasuwa and upgradation of the Kodari Highway.

Both the sides agreed to enhance the functions and facilities at the border ports and Nepal renewed its request for early opening of the Tatopani border, a major trading point between the Himalayan nation and China.

In another agreement, the Chinese side vowed to extend economic and technical cooperation for various projects in Nepal related to infrastructure development, road, railway, transmission line, tourism, and cross-border grids. 

Under the framework, both the sides reached agreements on building hydropower projects.

China also will provide aid to Nepal for oil and gas exploration and for rescue and rehabilitation of the people affected by the floods and landslides, according to Nepal's Foreign Ministry.

Nepali officials urged the Chinese side to expand the rail link from Kerung to Kathmandu to Pokhara and Lumbini. 

After concluding delegation-level talks with Deputy Prime Ministers Gachhadar and Krishna Bahadur Mahara, Wang had separate meetings with CPN-UML Chairman K.P. Sharma Oli and CPN (Maoist Centre) Chairman Pushpa Kamal Dahal "Prachanda".