New Challenges and Progress:Sino-Nepal Economic and Trade Cooperation Since the Belt and Road Initiative
China and Nepal,sharing a mountainous border,have a long-standing history of economic and trade cooperation.Since the Belt and Road Initiative was put forward in 2013,Sino-Nepal economic and trade cooperation has accelerated,combining both broad and targeted efforts.Reviewing the comprehensive cooperation achievements in the past decade reveals significant progress in terms of strong commodity complimentarity and rapid bilateral trade growth.However,challenges remain such as trade imbalances,the need for optimization tradestructures,the underdeveloped small-scale border trade between Nepal and the Xizang Autonomous Region of China,and the urgent need to diversify Nepalese exports to China.Investment cooperation between China and Nepal is on the rise,labor cooperation is beginning to take shape,and financial cooperation has a promising future.In the face of challenges such as trade asymmetry,external hostile forces,and adversarial media narratives,China and Nepal should enhance trade interdependence,strengthen the connectivity infrastructure,deepen cultural cooperation,and collaboratively build bilateral diplomatic soft power to counter external infiltration.These efforts are essential to ensure that Sino-Nepal economic and trade cooperation enters a new era.
economic and trade cooperationthe Belt and Road InitiativeChinaNepal
NETL
NSTL
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