Program description

“Contours of The Belt and road Initiative for South Asia”

The One Belt One Road (OBOR) project, also known as the Belt and Road Initiative (BRI), is the initiative of

current Chinese President Xi Jinping announced in 2013. It aims to construct commercial trade routes connecting

China with Europe and Africa. The route is estimated to link 65 countries constituting nearly 4.4 billion people in

Asia, East Africa, the Middle East and Europe. The Chinese government, in its action plan on the Belt and Road

initiative, mentions that the project will create “a way for win-win cooperation that promotes common

development and prosperity and a road toward peace and friendship by enhancing mutual understanding and

trust, and strengthening all-around exchange”. The OBOR initiative is expected to benefit the entire world with its

plans of US$1 trillion worth of infrastructure investment. The initiative has garnered support from major

economies over the world as shown by their active participation during the Belt and Road Forum held in Beijing

this May. China shares a border with five South Asian countries ranging from the major powers in South Asia—

India and Pakistan—to others: Afghanistan, Nepal and Bhutan. Since the late 1990s, a Chinese economic tie in

terms of trade, investment, and financial assistance has been growing in the South Asian Association for Regional

Cooperation (SAARC) region. Over the past 15 years—from 2000 to 2014—China has managed to become the

largest trading partner of India, Pakistan and Bangladesh and the second largest trading partner of Sri Lanka and

Nepal.

At a time of global economic slowdown, and Western donor funding on the decline, China has come to South

Asian countries as a reliable development partner to complement their development needs. This has gradually

strengthened their economic linkages with China, including for their economic growth and development.

In South Asia, OBOR initiative has already made progress through projects like the China-Pakistan Economic

Corridor (CPEC), which is expected to build infrastructures linking China with the Indian Ocean at an

estimated cost of US$54 billion. It also plans to connect China with India via Myanmar and Bangladesh. There

has been substantial infrastructure development in Sri Lanka with the Chinese support. China is readying itself

to enter South Asia via Nepal as well, and the former has already expressed its willingness to participate in the

transnational project. The OBOR comes to South Asia with a prospect of much needed investment support for

its infrastructural needs. Development of infrastructure—the basics: roads and bridges, among others—

remain instrumental in this economically laggard region. Attaining the Sustainable Development Goals (SDGs),

and uplifting millions of South Asian poor out of poverty, also needs substantial financial investment.

The grand concept accompany huge benefit for South Asia and for promoting the plan Nepal China Friendship

forum (NCFF) a non-profit and non-political organization engaged in the array of issues supporting in

strengthening bilateral relations between Nepal and China organized a half day consortium on Belt and Road.

The main objective of the events was to share country-specific OBOR experiences from select South Asian

countries; to discuss ways for leveraging OBOR for regional development in South Asia; and to identify

workable modalities for implementation of OBOR projects in SAARC Countries. The consortium met the

objective in some context also the attendees of the event was genuine learner of Belt and Road. The guest

included from diverse area the Former Ambassadors of India, China along the current Excellency of

Bangladesh participate the event apart Journalist moreover of Foreign Correspondence, Researcher and

Government bureaucrats was present and make the platform more interactive and barnstorming. The event

eventually was a grand success after the informative speech of Chief Guest: Former Minister for Foreign Affairs and

CPN-UML leader, Mahendra Bahadur Pandey, H.E. Yu Hong, Ambassador of People’s Republic of China to Nepal and Mr.

Shanker Prasad Ahdikari, Finance Secretary.

The event first speech of the inaugural session was delivered by H.E. Ambassador Yu Hong. The ambassador

appreciated NCFF for organizing the program “to discuss on how to further the cooperation between China and South

Asia under the framework of the Belt and Road Initiative”. She mentioned that the BRI was put forward by President Xi

Jinping in 2013 and added that “in the past four years, guided by the principle of achieving shared growth through

discussion and collaboration, and with the joint efforts of all participating countries, the vision of the Belt and Road

Initiative has turned into reality”.

In her address, Ambassador Yu Hong further said that the report of 19th National Congress of CPC highlighted that the CPC

would pursue the BRI as a priority and mentioned that the BRI was even incorporated into the Constitution of CPC that

China would pursue the BRI following the principle of achieving shared growth through discussion and collaboration. The

envoy said that since the BRI was proposed, the trade between China and South Asian countries has grown steadily.

According to her, the trade volume in 2016 exceeded 110 billion US dollars, an increase of 14.8 % than that in 2013.

Likewise, direct investment of China to South Asia in 2016 reached US$ 1.46 billion, an increase by 114.7% vis-à-vis to that

in 2013. “China now is one of the major investors in South Asia,” the Ambassador said. She further said: “In South Asian

countries, there is a huge demand for infrastructure and investment, including power supply, communication, road

construction and so on. There is great potential on project contracting cooperation between China and South Asian

countries.”

While reiterating that China has not only benefited from economic globalization but also contributed it, she said: China will

provide vast market, more sufficient capital, more abundant products and more valuable opportunities for cooperation to

all countries in the world. She also invited South Asian countries to have active participation in the first China International

Import Expo, which is going to be held in Shanghai in November 2018. In her concluding remarks, the Chinese envoy hoped

that the scholars and experts of the seminar may offer more suggestions and advice to the topic of BRI with South Asia

which would help to promote the cooperation between China and South Asia.

The chief guest of the program, former Foreign Minister, Mr. Pandey, started his address by saying: “Nepal is one of the

neighbors of China and for Nepal, China is not only a neighbor but a good friend.” He said he found out the BRI is based on

five principles of peaceful coexistence and it’s aimed to enhance cooperation with neighbors and rest of the world for the

common development and prosperity. He mentioned that Nepal wants to reap benefits from the economic development of

both of her giant neighbors: China and India and shared his views that Nepal, through an active participation of BRI, could

achieve speedy infrastructure development and economic prosperity.

“The BRI is a signature initiative launched by Chinese President Xi Jinping, which not only connects countries of Asia, Africa

and Europe, but also connects our economy, culture, values, ideology and civilization,” he said. He also said that the

discussion on the BRI was very opportune as Nepal has already signed a MoU with China to this effect. He said the BRI is “an

initiative opened for cooperation among the neighbors and rest of the world”. “This is a framework initiative that follows

the market and economic cooperation among the involving countries,” he added saying that “neither China nor other

participants should be intimated by this project. It’s win-win cooperation”. Mr. Pandey mentioned that Nepal has already

promulgated a new constitution after a long and protracted transition and the country was not going to hold provincial and

parliamentary elections. He further mentioned that after the forthcoming polls, the country would focus on the mission of

economic development and realize its BRI commitments into action. The connectivity through BRI not only connects two

countries, but also connects our culture, values, history and many more; he said adding, “It also enhances cooperation in

areas of trade and investment.” The UML leader also said that Nepal can look forward to and can learn a lot from China,

India, Bangladesh and Pakistan in areas of infrastructure development and others.

Delivering the final inaugural speech, Finance Secretary Mr. Shanker Prasad Adhikari informed that Nepal and China in May

2017 signed a MoU on the BRI and said that the Government of Nepal is now reviewing possible infrastructure and

connectivity projects to be pursued under this framework. The Government of Nepal is “open to enhance cooperation in all

of them, particularly in expanding trans-Himalayan railways and roadway projects, infrastructure development, trade and

investment,” he said.

Referring that Nepal and some other South Asian nations, including Pakistan and Bangladesh have joined the BRI, the

Finance Secretary said it was a very high time to start discussion as to how China and South Asia can deepen friendship and

cooperation in areas of infrastructure development and generating wealth and, prosperity under the BRI framework. He

said Nepal needs not only adequate financial and technical resources, but also advanced transportation system in place to

achieve speedy economic growth and development and mentioned that the BRI “would be an opportunity for Nepal to

improve connectivity and infrastructure and open new avenues of cooperation in trade, investment, transmission line and

transit”.

Mr. Adhikari further said Nepal has abundant natural resources, and Chinese enterprises with necessary technological

know-how and financial resources can bring in more investment in the country. “Under this framework, Chinese investors

may utilize the investment opportunities in Nepal for mutual benefit,” he reiterated. Stating that there is wide range of areas

of cooperation that could be done under BRI, he added: “Nepal is open to enhance cooperation in all of them, particularly in

expanding trans-Himalayan railways and roadway projects, infrastructure development, trade and investment.” He also

expressed his belief that if realized fully, the China-initiated project “could transform Nepal into a land-linked country from

'land-locked' country” and “help diversify Nepal’s trade and transit”. “Nepal has historically served as an entrepot between

China and South Asia. Now, the BRI initiative can play a vital role in revitalizing the ancient trade routes in the region,” he

said.

The thematic session was presided over and moderated by Dr. Atiur Rahman, Professor of the Department of Development

Studies, University of Dhaka and former Governor of Central Bank of Bangladesh. The chair called upon all three

distinguished scholars—Dr. Shanker Sharma of Nepal; Prof. Prabir De of India and Prof. Su Changhe of China—all of them

presented their papers during this session. The chair also called upon Mr. Shafqat Munir of Pakistan at dais to present his

views as a panelist.

Before moving on, Prof. Rahman presented his own remarks. He said South Asia has always been connected to China, both

by overland and sea routes from ancient times. He said Buddhism was exported to China from Nepal and India According to

him, geographical setting of South Asia has been very much different what it used to be earlier. Economic dynamics has also

been changing. China of last 15 to 20 years has become much more dynamic and an economic force.

He said small countries like Nepal and Bangladesh have to remember that “we are in between two giants-- China and India

as both of them are rising simultaneously. He said the “global economic centre of gravity is decisively shifting towards Asia”

and added that smaller countries are very much in good shape with this paradigm shift. “Entire Asia is flourishing and even

the smaller countries like us are also participating in this larger king of scenario.”

Prof. Rahman said in line with their rising economic clout, China and India’s footprints are growing in their neighbors and

beyond. According to him, both China and India have distinct reasons to expand their economies and geographical interests

in Asia and beyond. China launched BRI aiming to connecting South Asia, South East Asia, Europe and Africa. The

Bangladeshi economist dubbed BRI as the “most ambitious undertakings the world witnessed following the US-led Marshal

Plan”. “The BRI could rewrite the script of latest trade of the globe fundamentally, changing trade and connectivity,” he

added.

Saying BRI has already started affecting China–South Asia relations, he said the projects backed by Beijing’s deep pockets

intend to develop and in some cases, take control some of strategic projects like ports and special economic zones in South

Asia. He said we are witnessing larger footprints of BRI in Pakistan and Sri Lanka and its clout is growing in Bangladesh,

Nepal and Maldives.

According to him, China’s rising geopolitical interests has already created much tension in the region. He said part of the

China Pakistan Economic Corridor, which according to New Delhi’s account, crosses the disputed territory of Kashmir, and

in protest, India reportedly boycotted the BRI Forum in Beijing in May 2017. “The recent standup at the high altitude of the

Himalayas is yet another example of the growing rivalry between these two giants, which already has spillover effects in

tourism in Nepal and other parts of the region,” he said. He added that the Rohingya refugee crisis in Myanmar-Bangladesh

border is also direct or indirect fallout of China-India rivalry. He said their Sino-India rivalry has already affected other

regional initiatives like BCIM. “This has limited the development efforts of smaller economies of South Asia and put them at

difficult situation, he observed.

He suggested that given the limit of their domestic markets, countries like Nepal and Bangladesh have little choice, but to

involve intra and extra regional initiatives such as BBIN, BCIM and among others so as to access larger markets, particularly

in China, ASEAN and India. Sharing his dismay over “lackluster performance of SAARC”, he said question now arises for

relatively smaller economies of South Asia like Nepal and Bangladesh is as how to maintain the balance between these two

giants at the same time pursuing own broader economic goals. “This requires a common platform as other South Asian

economies raising their collective voice. They can’t afford in taking sides in favor or against China and India,” he observed,

suggesting that these countries has to pursue open regionalism policies, not blocking the path for any power, including

extra-regional ones to offer positive signs.

Prof. Rahman said most countries of South Asia have judiciously backed the Belt and Road Initiative and New Delhi-led sub-

regional cooperation like BBIN. He mentioned the BRI can provide solution to much needed infrastructure in South Asia

because of Chinese technology and huge finances. “This can be a spring boat to help the region connecting South Asia with

East Asian value chain linking global market,” he said.

The first paper presenter was Dr. Shanker Sharma, former Ambassador of Nepal to the United States. He presented his

paper on the theme of the BRI and its prospects and implications for Nepal. Dr. Sharma began his presentation saying that

the main objective of BRI is enhancing connectivity in all parts of the world, except the USA, which is quite far. He

mentioned the initial financial proposal for this initiative is about $1.3 trillion to $5 trillion and dubbed it as unprecedented

and huge initiative. He said there were two financing modalities to receive funds for projects under the BRI. One is Asian

Infrastructure Investment Bank, with paid up capital of US$ 100 billion and another Silk Road Fund having paid up capital

of US$ 40 billion so there would no problem of funds to pursue projects under this initiative.

He said Nepal requires finance, technical and other resources to invest in infrastructure projects and can receive it from

China under the BRI framework. He also said Nepal has a strong competitive advantage in tourism sector but the country

has not yet even achieved the target of one million tourists annually. He referred that elections manifestos of two major

political parties of Nepal stated to bring up to 3 to 5 million tourists in a decade or so, for which, he said, we need to have

huge hospitality infrastructures in place.

Regarding the foreign direct investment, he said Nepal receives $1.5 FDI per capita, compared to $45 in India and US$ 95 in

China. “Thus, Nepal still has plenty of scope to invite foreign investors in Nepal,” he said. He also mentioned that unlike the

claims of two major parties’ manifestos, there is less likely to achieve $5,000 per capita income in 10 years time, as share of

“manufacturing and other sectors” in the GDP is declining.

Dr. Sharma said Nepal solely dependent on India for energy, which accruing to him creates problems and we witnessed this

many times in the past. Saying Nepal’s two-third of trade and 57 percent of export is with India, he said: “We need to

diversify our energy security and trade.” He also raised question of Nepal’s transit dependence on India, and mainly the

Calcutta Port, which, according to him, is “one of the most inefficient ports in the world”.

As one of the benefits of BRI for Nepal; Dr. Sharma said it would revive and utilize the traditional Silk Road through and

opening up the trans-Himalayan rail and road links, Nepal can revive its ancient glory of being a transit nation between East

Asia, Central Asia and South Asia. “These road connections not only connect Nepal to Tibet and China, but also connects to

the Central Asia, South East Asia and Eurasia and beyond,” he said. According to him, this would help increase the flow of

Chinese tourists to Nepal, and boosts the flow of Indian tourists to Mansarovar of Tibet via Nepal. He said that both the

Nepali exports would be benefitted from the venture while Indian people and business community would also reap benefits

from this. Dr. Sharma said that the open up would also be an opportunity for the development of the hinterland of Western

China as there is a huge development gap between coastal parts hinterland of western China.

Dr. Sharma said while initiating the projects, northern parts of Nepal needs to get more attention as that area are left behind

in terms of development indicators and population therein are decreasing day by day. Therefore, the question is how the

local people there can reap benefits from the projects. He also raised question as how to address the issue of employing

local people as China is being criticized for bringing their own employees, although it has some advantage of timely

completion of the project.

Chair of the session, Prof. Rahman thanked Dr. Sharma for enlightening presentation on Sino-Nepal economic relations and

prospects and concerns with the Belt and Road Initiative for Nepal and South Asia. While agreeing up on Dr. Sharma’s

remarks that there would be no funding problems for the BRI projects, Prof. Rahaman said: “I think problem lies with the

capacity building within the nations. Many of us can access fund provided we prepare the projects well, we can implement

in time and oversee and monitor it.”

Following his comment, the Chair called upon Prof. Prabir De for his presentation, which was entitled, “China’s Belt and

Road Initiative: Implications for South Asia”. During his presentation, Prof. De focused on the concerns and the possible

implications of BRI for South Asia.

At the outset, he presented a gloomy picture of global economy and said even Chinese economy is not doing well as Chinese

export is facing a high deceleration. He said really big infrastructure would be developed under BRI, through which China

wants to colonize the world. He also blamed China as a trade protectionist country, saying China didn’t provide easy access

of South Asian goods to the mainland, such as handicrafts of Nepal, and other parts of India, Bangladesh.

He also China is not a big investor, but Chinese truck and goods will come to South Asia but not their investment. “We

should be very careful,” he said, sharing the fact that there is a huge trade deficit of South Asian countries with China. He

also said China created 12 new trade restrictions for the year 2016 and asked to consider this issue in the context of

pursuing projects under the BRI. The Indian scholar also said through BRI, China is trying to create a China-centric global

order, and raised the danger of debt risk as the projects would be developed through concessionary-finance, but not grant-

in-aid.

Prof. De said BRI has very limited involvement in South Asia as even BCIM Economic Corridor is not a part of BRI, but a

separate economic project initiated a decade ago. He said there would be no compromise in the sovereignty of a country in

the name of Belt and Road Initiative.

In his recommendation, Dr. De said grant would be better than pushing countries into further debt. He further suggested

that the South Asian countries shall better pursue cooperation under the BBIN and BIMSTEC framework, which he said as

“game changer” for the development of the region. He said selected South Asian countries may involve in BRI projects, but

prudence shall apply in this regard and suggested Chin to open up markets for South Asian countries.

Session chair, Prof. Rahman thanked Prof. De for his presentation. He said Prof. De has given a big picture while taking small

efforts. He said he doesn’t want to contest what Dr. De said but shared the fact that the two-way trade between Bangladesh

and China reached $12.5 billion in 2015. The annual growth in the past five years of has been 40 percent and import

average is 23 percent. He further said by 2021, the projection is that Bangladesh-China trade will exceed $30 billion. He said

he is fully agreed with Prof. De that the issues of trade facilitations and non-tariff trade between South Asia and China and

rest of the world should be addressed. “Globally, we have to have more trade facilitation and more collaboration globally.

There is no option of it,” he further said: “This century belongs to Asia. We must have work together to make our century

more successful.”

The third presentation was of Prof. Su Changhe of Fudan University, China, who presented his paper under the title: “OBOR

and Regional Cooperation in the New Era of International Relations”.

Prof. Su began his presentation saying the global power has been shifting from developed countries to the developing ones

and China has become no. 2 economy in the world. He further said entire global economy has been shifted toward the East.

He said pace of infrastructure development in India and China is quite different. China is far ahead in terms infrastructure

development—i.e. high speed railways. He mentioned that the Belt and Road Initiation, which earlier used to be known as

One Belt and One Road (OBOR), is China’s response to transform the world and international cooperation. He said we are

facing unprecedented change in the world especially China became the world no.1 manufacturing country since 2010.

Prof. Su said one of his students at Fundan University asked him to compare the speech delivered by the Chinese and US

Presidents in APEC Summit last week. He said both the presidents were talking about the same trends but people were

receiving different responses from them. Xi was talking about multilateralism while Trump was sounding a unilateralist.

Likewise, Xi was open for world economic system whereas Trump was being a protectionist and the Chinese leader was

talking about common security, dialogues among the civilizations and community of shared prosperity while the US leader

was narrating for reinforcing the military alliances, clashes of civilization and projecting the America First policy. “Maybe

we have entered into the 21st century, but some people are still live in the 19th century,” he said.

Prof. Su said initiation of BRI was taken following a series of visits by President Xi in 2013 and made it as China’s response

to the current deficit of development, peace, and governance in the world. According to him, the BRI holds the principle of

five types of connectivity: policy, infrastructure, trade, investment and mutual understanding among the collaborating

countries.

Saying that though some countries perceive if China is creating a super-state through the BRI, Prof. Su said this is not true as

the very theoretical basic of this initiative is not “integration” but, “connectivity”. “This is based on a new regional

cooperation theory. OBOR’s theoretical basis connectivity,” he said. He further said other countries need not be worry if

China would become hegemonic while implementing the BRI as this initiative is a win-win cooperation for all participating

countries.

The Chinese professor was with the view that China and South Asian countries can have cooperation in policy framing as

well has Government to Government engagement, capacity building and pursuing common multilateral development plans.

He further said both China and South Asia requires to jointly develop better connectivity and exaggerating differences

among them won’t be of benefit for cooperation. He said: “The BRI is a concert for all players not a platform for a single

players and single country and single actors.”

Session chair Prof. Rahman thanked Prof. Su for his “fascinating” presentation. He said Prof. Su’s presentation was a very

good response to many concerns raised earlier by Prof. Prabir De of India. He also said as China has already become the

World No 1 in manufacturing, now it needs to be more open up and have a global perspective while leading the world

economically.

As a panelist, Mr. Shafqut Munir, a Pakistani journalist and President of Journalist for Democracy and Human Rights in

Islamabad presented his views, especially on the topic of BRI and China-Pakistan Economic Corridor (CPEC). He also said

Prof. Prabir De of India presented a very rigid view on BRI. He said Prof. De raised some of concerns, some of which may

have in relations to trade activities. He also said Dr. Shanker Sharma’s remarks raised the issue of bilateral concerns while

pursuing projects under BRI framework. He said Dr. Sharma’s concerns on energy security and trade were quite important

and that demands a serious attention.

While talking about CPEC as a component of BRI, he said given more benefits than concerns to Pakistan. He mentioned that

the CPEC has four key components—namely energy, connectivity and infrastructure development, constructing a deep-see

port in Gwadar and industrial cooperation and long-term plan between Pakistan and China. According to him, the CPEC

would help reduce Pakistan’s energy-deficit and road and port projects help open avenues for sub-regional linkages in

various parts of Asia. Mr. Munir mentioned that now there is a debate within Pakistan, among its provinces that if they are

not linked with the projects, there would be left out from the pace of development.

He said since the very outset, there were love-hate relations among the countries of South Asia, and now the relations have

turned towards more hate then the love one. Therefore, Pakistan is moving towards cooperation with other parts of the

world, he said. Now, we are inviting Russian, Korean and Chinese, as India is welcoming the USA. He said Pakistan’s interest

in South Asia is to be together and to work together. He further said connectivity within region is good as South Asia is a

least connected region. He said at least we should be open to open-regionalism than a narrow-regionalism. He mentioned

that China is becoming a leading economy and India is a growing economy, Pakistan is also an emerging economy and

within two decades Pakistan would have a place in top-20 economies in the world. The BRI is an opportunity and the

bottom line is we have to grab the opportunity.

After Mr. Munir’s remarks, the Chair announced the conclusion of the formal part of the seminar and opened the floor for

discussion.

Floor Discussion:

During the floor discussion, participants offered comments and views and also raised questions. Former Ambassador

Hiranya Lal Shrestha said BRI was not a short-term project but a long term visit of China as it has been incorporated into

the Chinese President Xi Jinping’s report to the 19th National Congress of CPC. He also said there is a national consensus in

Nepal on BRI as the election manifestos of all major political parties mentioned that they are committed to implement the

projects to be pursued under BRI framework.

Bhoj Raj Poudel said as there is a big issue of trade security for small countries like Nepal. As China is initiating such a big

project like BRI, he sought to know from Chinese Prof. Su, how would you respond such concerns of small economies of

South Asia and rest of the world?

Former Ambassador Dr. Bishnu Hari Nepal observed that Prof. Prabir De’s paper talked much about regional cooperation

like BBIN and BIMSTEC, but it failed to highlight the importance of SAARC. He inquired the Indian scholar as what he would

recommend his government on the proposal of China-India-Nepal Economic Corridor, which has already been pushed

forward?

Former Secretary Dwarika Dhungel sought to know from Nepali paper presenter Dr. Sharma that how he would you

observe the prospect of linking Nepal and Gwadar port of Pakistan via BRI in the context of energy and trade security for

Nepal?

Former Secretary Dr. Krisha Gyawali put forward his question to Prof. Su Changhe. He asked why this “road” thing is

repeatedly emphasized in this initiative and is there any semantical difference between OBOR and BRI in meaning?

Member of EPG on Nepal-Indian Relations, Surya Nath Upadhyay asked Prof. Prabir De that how

he would link the issue of freedom with the BRI as he during his presentation had mentioned

that freedom of speech in China is not guaranteed.

Dipesh Karki, Asst. Prof. of Kathmandu University, noted that the importance of capital flow while carrying out projects

under BRI. How come it ensures FDI until the foreign investors are assured that they could repatriate their investment? He

also observed Chinese investors come up with their own employees, as well as own engineering specification of Chinese

standard, not of the global standard. As a result of which, no Nepali, American or Indian workers can work in Chinese-led

projects.

Responses from the Presenters /Panelist

Prof. Prabir De: While responding to questions directed at him, Prof. Prabir De, on Dr. Nepal’s

query said, there is a Himalayan Economic Corridor which is presently slow in progress. He said

SAARC process should be revived and the regional summit should be held sooner than later. On

question of freedom of speech and its link with BRI, he said there is no direct link but issue of

freedom of speech in China should not be ignored.

Dr. Shanker Sharma: Regarding the question of using Chinese port for Nepalese trade and he

said it’s not economically viable as the nearest Chinese port is more than 3000 km far from

Nepali border. On the issue of debt-trap, he quipped we Nepalese are fortunate that we were

very slow in capital expenditure so now are being able to repaying national debt.

Prof. Su Changhe: The Chinese professor said Chinese system is capable of implementing BRI

projects step by step. He said the government and market are cooperative to each other rather

than competitive one. As political system different in China, he said: “If we use American or

European theory to analyze the BRI, I think this would be misleading.” He made it clear that

through BRI, China doesn’t want to change of guard or establish hegemony government in other

countries, rather it wants to have a shared development, growth and prosperity through

common endeavors.

Mr. Shafaqat Munir: He said that “there is no problem from Pakistan to host SAARC Summit and

Pakistan is still ready to hold it.

Vote of Thanks:

On behalf of the organizer—Nepal China Friendship Forum, Aditya Baral gave his closing

remarks and thanked all the guests and foreign scholars, paper presenters/panelists and

distinguished participants for their august presence and role to make the every bit of the

program a grand success.

Conclusion

All the participants, from chief guest to guest of honors/special guests to experts and

commentators to general audience, agreed that BRI is the most ambitious undertaking of the

new millennia and it could fundamentally change the global economic and trade regime. What

they have raised as concerns that the issues of capital flow, trade barriers, transparency, debt

and benefits for smaller economies and local people where the projects are developed. As Nepal

has already signed a MoU with China to be an active partner of the BRI, the country is yet to

finalize any single project to be pursued under this venture. Now, time has come to put pressure

from media, public and civil society so as to make the government and other relevant

stakeholders sincere to implement the BRI vision from their part.