Nepal to become transit corridor for Sino-Indian trade

Nepali Cabinet has adopted a high-level task force's report on developing Nepal as transit corridor for Sino-Indian trade and has asked all ministries to formulate their respective action plans to facilitate its enforcement,state-run Radio Nepal reported on Monday.

"We have already received the go ahead from the Cabinet to start work on materializing the vision," Vice-chairman of the National Planning Commission Shankar Sharma said.

Speaking during a program on Sunday, he said the government will come up with a concrete plan on infrastructure development, trade facilitation system, identification of cost effective routes, besides initiating necessary dialogue with concerned stakeholders.

The high-level task force headed by Sharma submitted its report to the Cabinet two months ago, recommending it to execute the plan through effective trilateral interaction between Nepal, India and China.

The idea was floated by Nepali King Gyanendra Bir Bikram Shah Dev in April this year.

In line with the plan, the Nepali government has set aside resources in the 2005-2006 budget to develop a number of north- south roads that will link India with China through Nepal.

Source: Xinhua