Kathmandu, Aug. 6: Finance Minister Dr Ram Sharan Mahat left here today for an official visit to China at the invitation of his Chinese counterpart Lou Jiwei. The visit is aimed at garnering additional support and cooperation from the northern neighbour in the country’s socio-economic development endeavours, the Ministry of Finance said.
The Finance Minister’s visit to China is expected to focus on reducing Nepal’s increasing trade deficit with China, garnering additional assistance for the development of physical infrastructures for socio-economic development endevours and on discussions about the matters of bilateral interests, according to his press advisor Gajendra Bista. Nepal’s annual trade deficit with China stands at Rs. 65 billion.
During the visit, Finance Minister Mahat is set to hold a meeting with Chinese Minister for Commerce Gao Hucheng, it is learnt.
Meanwhile, the Asian Infrastructure Investment Bank is going to be established at the initiatives of China with a view to increasing investment in the development of physical infrastructure. Nepal has already decided to be a founder member of the bank. A delegation from the Finance Ministry is to take part in the fourth multi-party consultative meeting of the bank. Ministry Joint Secretary Madhukumar Marasini will lead the Nepali delegation to the meeting.