China and Nepal have signed three pacts to boost their ties further in power, energy and economic sectors.
The signed agreements covered oil and gas resources exploration, economic and technological cooperation and promotion of investment.
The agreements were signed after visiting Chinese Vice-Premier Wang Yang held discussions with Nepal's Deputy Ministers Bijaya Kumar Gachhadar and Krishna Bahadur Mahara.
1. The agreements covered three different areas
a. Economic and technological cooperation
b. Framework agreement on promotion of investment and economic cooperation
c. China-aid oil and gas resource survey project
2. The pacts also included a feasibility study for excavating natural gas and petroleum in mountain areas and plains of Terai region of the Himalayan country.
3. They will help make significant contributions in Nepal's socio-economic transformation.
4. Both countries also agreed to establish hydropower projects and transmission lines and take steps or technological development in Nepal, which is suffering from an acute shortage of electricity.
5. China also agreed to upgrade 114-kilometre Araniko highway, which is an old route connecting two countries, which was damaged and subsequently closed after the massive 2015 Nepal earthquake.
