. Minister for Foreign Affairs Sishir Khanal has said economic diplomacy has been the central priority of the country’s foreign policy. The main objective of economic diplomacy is to create opportunities for trade, investment, employment, entrepreneurship, tourism, technology, innovation and sustainable development while improving the living standard of Nepali citizens.

Addressing the International Conference on ‘China and South Asia in a Multipolar World: China-India-Nepal Trilateral Relations in the Developed Regional System’ in Lalitpur on Friday, Minister Khanal said Nepal can play the role of a dynamic bridge to expand economic, trade and people-to-people cooperation between China and South Asia.TAG_OPEN_p_25

According to the Ministry of Foreign Affairs, he said Nepal is committed to sovereign equality, mutual respect, common interests and sensitivities with both its neighbours, China and India.TAG_OPEN_p_24

Minister Khanal said that rapid economic transformation taking place in Asia has created unprecedented opportunities for shared prosperity, adding that cooperation is the most effective means for sustainable development and long-term prosperity.TAG_OPEN_p_23

“Economic diplomacy is at the heart of our foreign policy. Nepal is ready to work together with all friendly countries for sustainable, inclusive and sustainable development,” he said.

According to him, the economic progress of China and India has opened up new opportunities for trade expansion, investment attraction, infrastructure development, connectivity, tourism promotion, and economic cooperation in South Asian countries, including Nepal.TAG_OPEN_p_21

Stating that although there was huge potential for economic development in South Asia, regional economic integration was yet to take place as expected, he said, adding that prosperity of the region could be achieved at a faster pace if connectivity, trade facilitation, investment flow and strengthening of supply chains could be strengthened.TAG_OPEN_p_20

} “The success of our cooperation should be measured not by how many compromises are made, but by how many opportunities have been created for citizens,” he said.

Minister Khanal said that the incumbent government has prioritized economic transformation in the national priority and laid special emphasis on quality investment, infrastructure development, export promotion, tourism, clean energy, digital transformation, innovation and development of private sector.TAG_OPEN_p_18

Stating that development of China and India should be taken as opportunities for Nepal’s economic development, he said the government aims to develop Nepal as a dynamic bridge connecting landlocked countries to China and South Asia.TAG_OPEN_p_17

Highlighting Nepal’TAG_OPEN_p_16 s soft power, he said that the birthplace of Lord Buddha, the spiritual legacy of Guru Padmasambhava, Sagarmatha and heritages enlisted in the world heritage list have further strengthened Nepal’s international status.

Pointing out the need of further strengthening regional cooperation, energy security, climate change, digital transformation, research, innovation and people-to-people relations, he stressed the need of expanding collaboration among universities, research institutions and the scholarly community.TAG_OPEN_p_15

Stating that the world was moving towards a multi-polar order, Minister Khanal said that Nepal was committed to play a positive and constructive role in building a partnership based on trust, mutual respect and common interests.TAG_OPEN_p_14

The conference was jointly organized by Nepal Institute for International Cooperation and Engagement and the Center for South Asian Studies under Fudan University of China.TAG_OPEN_p_13