Nepal set to sign agreement with China to be part of 'One Belt One Road Conference'

KATHMANDU: Nepal is set to sign an agreement with China to be part of the ' One Belt One Road Conference', a pet initiative of Chinese President Xi Jinping, officials said today.

Nepal is sending a high-level delegation to China to attend the 'One Belt One Road Conference' (OBOR) which will be held on May 14.

Deputy Prime Minister and Finance Minister Krishna Bahadur Mahara will lead the delegation which includes Physical Infrastructure Minister Ramesh Lekhak and Communications Minister Surendra Karki.

The One Belt One Road Conference (OBOR) will kick start on May 14, when Nepal conducts the first phase of its local elections.

"The Nepalse side yesterday informed the Chinese authorities that Kathmandu is sending a high-level delegation to the conference," Risi Raj Adhikari, Foreign Relations adviser to Prime Minister Prachanda was quoted as saying by the Kathmandu Post.

Though Prime Minister Prachanda had received an invitation to participate in the conference, the government has decided to send Mahara owing to to clash of local elections dates clash with the conference.

Nepalese officials are making preparations to sign an agreement with China during the conference for Nepal to become a part of OBOR, a flagship foreign policy initiated by Chinese President Xi.

During his recent visit to China, Prachanda had assured Chinese authorities that Nepal would be a signatory to the initiative.

Foreign Minister Prakash Sharan Mahat and Foreign Secretary Shankar Das Bairagi are holding a series of meetings with Chinese Ambassador to Nepal Yu Hong in order to narrow down the differences for allowing Nepal to sign in the OBOR at the conference.

The OBOR initiative aims to link the economic circles in East Asia and Europe, connecting China - on land and over water - to partners in Asia, Europe and Africa.

The initiative, known as the revival of the ancient Silk Road trading route, would link Asian markets with economic groups in Europe.