Leela Mani Paudyal, Nepal’s Ambassador to the People’s Republic of China noted that China has developed its economy tremendously in the past 70 years & has shared its experience and resources for the development of neighbouring countries, bringing win-win cooperation.

On August 1, 1955, China and Nepal officially established diplomatic relations. Since then, the friendship between the two countries has gradually deepened.

BRI Brings Benefits to Participating Countries

Chinese President Xi Jinping expressed his appreciation for Nepal’s active participation in the Belt and Road Initiative during talks with Nepalese President Bidhya Devi Bhandari in Beijing in April. Leaders of both sides agreed to take the Belt and Road Initiative (BRI) as an opportunity to push forward the China-Nepal comprehensive cooperative partnership with ever-lasting friendship to a new level.

Paudyal believes that participating in BRI brings opportunities. “On that background, Nepal is also expecting more cooperation from friendly countries, because that is our diplomatic requirement, too.”

According to Paudyal, BRI is one of the most important public goods that China provides to the international community. BRI offers opportunities for collaboration, partnership and cooperation for the mutual benefit of participating countries.

Paudyal also said Nepal supports countries which benefit from the opportunities offered by BRI and these countries bring potential for the development of Nepal as well.

China Makes Unprecedented Achievements Over Past 7 Decades

Paudyal praised China’s unprecedented achievements in many aspects over the past 70 years. He said he was impressed by China’s efforts in poverty alleviation, infrastructure construction and agricultural development.

“The one astonishing impact of Chinese development is poverty alleviation, not only in China, but also on a global level. China has brought 700 million people out of poverty. This is a great achievement. Not only in regards to the poverty level, but the living conditions of 1.4 billion people has also been substantially improved,” said Paudyal.

The diplomat pointed out that China has made great contributions to global growth. “China has been developing infrastructure, particularly in the transportation sector. That has not only contributed to China’s development, but has also contributed to the global economy.”

He also praised China’s progress in agriculture. He noted that productivity has substantially increased in China, which also has contributed to global food security.

In addition, Ambassador Paudyal also stressed China’s progress in the field of information technology, mobile payment and internet services.

“China has made tremendous development in information technology, particularly digital technology. It has a great impact on the livelihood of the people, convenience to the people, not only in China, it has a greater impact on the outside world,” he said.

Attracting Foreign Investment Brings Mutual Benefits

The second China International Import Expo (CIIE) will be held in early November, and the new Foreign Investment Law will be implemented next January.

“The Investment Law will create a conducive environment for China to attract more investment from the outside world, so that China’s economy will continue to grow. When China’s economy continues to grow, it will have a positive impact on countries like Nepal,” said Paudyal.

Paudyal said that China is one of the largest foreign direct investment destinations and also a source of foreign direct investment for the outside world.

According to China’s Ministry of Commerce, the actual utilised foreign investment in China rose 7.2 percent from a year ago to reach 478.33 billion yuan during the first half of this year.

Paudyal has high expectations for the upcoming CIIE. He noted that Nepal would improve high-quality standard products and perfect supply chain to better participate in the 2nd CIIE.

This year marks the 70th anniversary of the founding of the People’s Republic of China, and Paudyal sent his congratulations to the Chinese people and government.

“I would like to congratulate Chinese people, the government and the Communist Party of China. They have made tremendous progress in social economic advancement in the last 70 years since the founding of the People’s Republic of China. I also wish China continued success in its endeavour to attain the two centenary goals,” he said.