Nepal to be part of China's OBOR

Kathmandu: Nepal has decided to become a part of China's One Belt One Road (OBOR) initiative and an agreement to this effect as is likely to be signed with Beijing soon.

Citing top government officials, Kathmandu Post reported that a cabinet meeting of the Nepal Government on Monday took a decision to sign an agreement to become a part of OBOR during the upcoming OBOR Conference to be held in Beijing this month.

Nepal has already confirmed its participation in the OBOR conference, Deputy Prime Minister and Finance Minister Krishna Bahadur Mahara will be leading the Nepali delegation to the conference.

Nepal`s Physical Infrastructure Minister Ramesh Lekhak and Communications Minister Surendra Karki along with senior government officials will also participate in the conference scheduled to kick off on May 14 Nepal`s Prime Minister Pushpa Kamal Dahal during his recent visit to China had assured Chinese leaders that Kathmandu would be a signatory to the initiative by April.

OBOR is Chinese initiative that focuses on connectivity and cooperation among countries primarily China and the rest of Eurasia, which consists of two main components, the land-based "Silk Road Economic Belt" (SREB) and ocean going "Maritime Silk Road" (MSR).