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Ambassador Yu Hong's Speech at the 14th Meeting of China-Nepal Non-Governmental Cooperation Forum

Honorable Deputy Prime Minister and Finance Minister Mr. Mahara,

Respected President of Federation of Nepalese Chambers of Commerce and Industry (FNCCI) Ms. Bhawani Rana,

Respected Vice Chairman of All-China Federation of Industry and Commerce (ACFIC) Mr. Xie Jingrong,

Ladies and gentlemen, dear friends,

Good morning!

It is my pleasure to attend the opening ceremony of the14th Meeting of China-Nepal Non-Governmental Cooperation Forum. On behalf of the Chinese Embassy in Nepal, I congratulate to the Forum and welcome the All-China Federation of Industry and Commerce delegation led by Vice Chairman,Mr. Xie Jingrong to Nepal and thank FNCCI for its meticulous organization and thoughtful arrangements.

Since the establishment in 1996, with joint efforts by the two sides, China-Nepal Non-Governmental Cooperation Forum has become an important platform for promoting exchanges and cooperation between private enterprises of the two countries and it has been playing a very import role in promoting economic, trade and investment cooperation and enhancing bilateral communications. ACFIC and FNCCI are important organizations to bring together the elite of business communities, who make unremitting efforts and important contributions in strengthening communication between companies and government departments and related institutions on behalf of private enterprises, helping enterprises to reflect and solve their operational difficulties and problems, maintaining the trade and market order, protecting their rights and interests, and supporting them to go abroad for exploration on international market and looking for new partners for cooperation. The Chinese Embassy in Nepal would like to express its appreciation to ACFIC and FNCCI for your efforts to promote the development of China-Nepal relations.

China and Nepal are close neighbors connected by common mountains and rivers, the friendship between the people of China and Nepal can be traced back to the ancient time. Since the establishment of diplomatic relations, mutual political trust between China and Nepal has been enhanced constantly, the relations between the two countries has been developing continually in a stable and healthy way, the cooperation in economic and trade, energy, tourism and other various areas also has been strengthening by joint efforts of the two countries. At present, China is the second largest trade and investment partner, the second largest foreign tourist resource country to Nepal and one of most important partners on development and cooperation for Nepal. After the massive earthquake shocked Nepal in 2015, China has been continuously providing grant assistance to Nepal for post-disaster reconstruction in five sectors, namely infrastructure, livelihood recovery for people living in affected areas, cultural relic renovation, disaster preparedness and health sector to make a contribution to the economic revitalization and social development of Nepal. The investment from China to Nepal is increasing. At present, Chinese enterprises are investing in different fields including hydropower station, airlines and construction materials. At the same time, Chinese enterprises are implementing contract projects in Nepal. They have advanced technology and abundant overseas experience on the construction of road, hydropower station, airport and electricity transmission line. We believe that those Chinese companies will play very important role in the post-earthquake reconstruction of Nepal and the connectivity construction of the two countries. The Chinese government encourages and support reputable and capable Chinese companies to enlarge investment and cooperation in Nepal, to enhance the cooperation with Nepalese companies. We are proud to see that the Chinese companies are contributing to the prosperity and economic and social development of Nepal.

In the course of strengthening cooperation, we come across some problems, such as the weak infrastructure facilities and lack of fund, preferential policies for investment yet to be implemented satisfactorily, the investment environment should be further improved. We hope and believe these issues might be solved gradually.

On May 14-15, the Belt and Road Forum for International Cooperation was successfully held in Beijing, China, which is the highest level international forum on Belt and Road since the Initiative was launched in 2013. The forum has won positive response from the international community, 29 heads of state and government leaders attended the summit and more than 1,500 delegates from over 130 countries and 70 international organizations attended the forum. Nepal's Deputy Prime Minister and Finance Minister Mahara of Nepal led a delegation to participate the Forum. Among the representative concrete results, 5 major categories, more than 270 cooperation projects or agreements between China and different countries and international organizations have been signed during the Forum. There are also some between China and Nepal, namely MOU between governments of China and Nepal on Cooperation under the Belt and Road Initiative, MOU on Constructing China-Nepal Cross-border Economic Cooperation Zone and the Letters of Exchange for Syaphrubesi-Rasuwagadi Highway Repair and Improvement Project. Ministries of Commerce of China and Nepal and other 60 more related institutions and international organizations jointly released the Initiative on Promoting Unimpeded Trade Cooperation along the Belt and Road, and companies of two sides also signed cooperation agreements of the China-Nepal Friendship Industrial Park and Nepal-China Tibet Cultural Tourism Industrial Park.

Furthermore, the Chinese government will provide more assistance to countries along the Belt and Road for the improvement of people's livelihood. In 2018, China will host the China International Import Expo. Within the next 5 years, China is going to import goods of more than 8 trillion US dollars and foreign direct investment will exceed 750 billion US dollars. Through these important measures, China hopes to contribute to the development of globalization.

The Belt and Road Initiative provides an important opportunity to promote and enhance bilateral relations between China and Nepal and strengthen the cooperation between enterprises of the two countries. I have noticed that the signing of MOU between governments of China and Nepal on Cooperation under the Belt and Road Initiative has won positive appraisal of people from all walks of life in Nepal. To implementing the Belt and Road Initiative also relies on the joint efforts of the two governments and enterprises.

Joint built through consultation to meet the interests of all is the main principle of the Belt and Road Initiative. The Chinese Embassy in Nepal will strengthen the cooperation with the Nepal Government on policy coordination, trade facilitation and connectivity to build stronger institutional guarantee for cooperation and development of enterprises of the two countries. Hope the enterprises from the two sides take full advantage of the opportunities brought by the Belt and Road Initiative to explore business, strengthen concrete cooperation, through learning from each other to realize the joint development. I believe that in the future ACFIC and FNCCI will further strengthen exchanges and cooperation, continue to act as a bridge between the government and business circle, offer good suggestions to government on policies making in the field of promoting trade facilitation, infrastructure construction, improvement of investment environment, and build a better cooperation platform and offer better service to enterprises from both sides and make greater contribution to the economic development of the two countries.

Last but not the least, I would like to thank all of you for your contribution to the Non-Governmental Cooperation and the bilateral relationship between our two countries and sincerely hope enterprises from China and Nepal become good partners on business and good friends in life. Nepal has already successfully held first stage of local election. The Chinese government hopes to see the steady and smooth implementation of the new constitution in Nepal, and hope to see that Nepal realizes development and stability. I believe that the cooperation between enterprises of China and Nepal will certainly move up to a new height!

Wish China-Nepal Non-Governmental Cooperation Forum a complete success!

Thank you!




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