Kathmandu, Aug 7: Minister for Foreign Affairs Shishir Khanal has said that economic diplomacy is at the centre of the country’s foreign policy.
He said this while addressing the international conference on ‘China and South Asia in a Multipolar World: China–India–Nepal Trilateral Relations in an Evolving Regional Order’, in Lalitpur today.
Minister Khanal said that the purpose of economic diplomacy is to improve the living standards of Nepali citizens and to create opportunities in trade, investment, employment, entrepreneurship, tourism, technology, innovation, and sustainable development.
According to the Foreign Minister’s Secretariat, he stated that Nepal can play a ‘dynamic bridge’ role to expand economic, trade, and people-to-people cooperation between China and South Asia, and emphasized to both neighbours that Nepal is sensitive to sovereign equality, mutual respect, mutual interests, and each other’s concerns.
He said that Asia’s rapid economic transformation has created unprecedented opportunities for shared prosperity, and that cooperation is the reliable means for sustainable development and long-term prosperity.
“Economic diplomacy has become a central priority of our foreign policy. Nepal is ready to cooperate with all friendly nations for sustainable, inclusive, and progressive development,” said the Foreign Minister.
He maintained that the economic growth of China and India has provided new opportunities for neighbouring countries, including Nepal, to expand trade, attract investment, develop infrastructure and connectivity, promote tourism, and enhance economic cooperation.
Although there are huge opportunities for economic growth in South Asia, the reality is that relatively regional economic integration has not been achieved. The Foreign Minister mentioned that if connectivity, easy trade, investment flow, and supply chains can be strengthened, it won’t take long for this region to become prosperous.
“The success of our collaboration shouldn’t be measured by how many agreements we made, but by how many opportunities we were able to create for our citizens,” he said.
The Foreign Affairs Minister emphasized that the incumbent government has reiterated making economic transformation a national priority and has particularly focused on quality investment, infrastructure development, export promotion, tourism, clean energy, digital transformation, innovation, and private sector development.
Stating that the development of China and India is seen as an opportunity for the country’s economic progress, he clarified that the government’s goal is to develop the country from being landlocked into a dynamic bridge connecting China and South Asia.
Minister Khanal opined that the birthplace of Lord Buddha, the spiritual heritage of Guru Padmasambhava, Mount Everest, and various World Heritage sites have further strengthened the country’s soft power.
Pointing out the need to strengthen regional cooperation, energy security, climate change, digital transformation, research, innovation, and people-to-people relations, he stressed on the importance of enhancing collaboration between universities, research, and scholarly institutions.
Emphasizing the need to build partnerships based on trust, mutual respect, and common interests in a multipolar world, Foreign Minister Khanal said that Nepal is committed to playing a constructive and positive role in that direction.
The conference was jointly organized by the Nepal Institute for International Cooperation and Engagement and the South Asia Study Center of Fudan University.
