Pivoting away from India, Nepal PM Oli visits China to seek investment

Quick Summary:

Oli wants to deepen and recalibrate economic ties with Nepal's northern neighbour as much as he seeks to reduce its traditional dependence on India to the south.

India accounts for two-thirds of Nepal's international trade while China has a share of just 14 per cent.

But China is a bigger two-way creditor, having lent more than $310 million, World Bank data shows, or $30 million more than New Delhi.

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Category: BusinessFinance

Markets: IndiaChinaNepalSri Lanka

Topics: Subba Gurung Ministry of Foreign Affairs President Government spokesperson Government of Nepal Nepal-India ties Media persons Beijing Nepal government Prime Minister Prithvi Subba Gurung Council of Ministers Chitawan Cancel Hospital Pushpa Kamal Xi Jinping China-Nepal Minister Li Qiang Oli Pushpa Kamal Dahal K. P. Sharma Oli

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News Sentiment: Neutral

Fact Checked: Legitimate

Article Type: News Report

Published On: 2024-12-03 @ 12:10:50 (2 weeks ago)

News Timezone: GMT +5:00

News Source URL: business-standard.com

Language: English

Article Length: 444 words

Reading Time: 3 minutes read

Sentences: 17 lines

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Copyright Owner: © Business Standard

News ID: 24083113

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