Nepal and China have agreed to sign a long-term petroleum deal to import fuel from Beijing. As a result of which, India will no longer hold monopoly over fuel imports. This followed a meeting between deputy prime minister and minister for foreign affairs Kamal Thapa and his Chinese counterpart Wang Yi in Beijing on December 25′ 2015. The foreign ministers of Nepal and China have directed the concerned authorities to seal the deal at the earliest.

A press statement issued after the meeting by the foreign affairs ministry stated that China had expressed a desire to seriously examine Nepal’s proposals to import petroleum products from Beijing.

Thapa and Wang also discussed a transit treaty between the two countries. Thapa said the treaty would enable Nepalese to access travel and goods from other countries through Chinese ports.

About the deal:

• The two countries will jointly examine matters relating to price, transportation and logistics.
• As a friendly gesture, China will provide additional fuel to Nepal’s northern areas bordering Tibet.
• Nepal and China also agreed to upgrade and operationalize the existing border points.
• It will also develop the other border points to promote connectivity between the two countries.

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