KATHMANDU, May 20 (Xinhua) -- Participation in China-proposed Belt and Road Initiative serves Nepal's interests and meets Nepal's necessities in many fields, the Nepali minister for foreign affairs has said.
Prakash Sharan Mahat made the remarks while addressing a group of Nepali diplomats at his office on Friday. Nepal and China signed a Memorandum of Understanding on bilateral cooperation under the framework of the Belt and Road Initiative here last week.
The minister said, "We signed the agreement on the Belt and Road cooperation with China keeping in mind that it serves our national interests and meet our necessities in many fields in the days to come."
Proposed by China in 2013, the Belt and Road Initiative refers to the Silk Road Economic Belt and the 21st Century Maritime Silk Road, aiming at building a trade and infrastructure network connecting Asia with Europe and Africa along the ancient trade routes of Silk Road.
"We believe that the Belt and Road cooperation with China will contribute to enhance Nepal's socio-economic development through development of road networks, promotion of trade as well as inviting more foreign investments from China," the minister said.