Though the 10-point agreement did not include a much talked-about fuel trade agreement between Nepal and China, the agreement for China to help fuel exploration in Nepal and to build petroleum infrastructure in the country provides ground for the possibility of such an agreement in the future. With an agreement in principle already signed in the aftermath of the fuel embargo by the only fuel exporter of the country, a commercial fuel trade agreement could be signed without much effort. However, for that to be made a reality, Nepal needs to invest in infrastructure including roads and transit facilities with a high priority. Nepal also needs to push for the realization of the agreement reach to linked Nepal and China through railway connectivity.
However, it is also a fact that China cannot completely replace India as far as Nepal's trade and transit is concerned. Geographically too, it would require mammoth investments from both sides for Nepal to enjoy trade and transit facilities from China in par with India. Responding to eyebrows raised by the Indian mainstream media over the latest trade and transit agreement that Nepal signed with China, Indian MEA spokesperson Vikas Swaroop said on Tuesday in Delhi that no country could compete with the 'special relations' that India has with Nepal. One cannot of course deny that Nepal does enjoy a very special relationship with India. But at what cost, and why did it not matter when Nepal almost faced a humanitarian crisis thanks to the border blockade imposed by its age-old friend and neighbor. Notwithstanding whether Nepal is going to ultimately materialize a fuel trade agreement with China, the latest China visit by Prime Minister Oli will definitely prove a milestone in the much-needed diversification of trade of the country. As the recent border blockade has proved, Nepal can no longer rely on its traditional trading partner India to help itself move toward the path to economic prosperity. And, Nepal has to enjoy the benefit in real and measureable terms of being locked by the two economic giants of the twenty-first century. RSS
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