KATHMANDU: After the presentation of the federal budget on May 29, Nepali Prime Minister KP Sharma Oli is embarking on a state visit to China in June.
Oli while informing Parliament about the outcome of the state visit of Indian Prime Minister Narendra Modi that concluded on May 12, said he's going to visit China soon.
During Oli's visit to Beijing in 2016, some agreements were signed which are expected to be executed as he tours China next month, as per Kathmandu Post.
The date of the visit is yet to be decided. It is said to be timed around the 18th summit of the Shanghai Cooperation Organization (SCO) which is scheduled for June 9 and 10.
Nepal, an observer at the SCO, will have lower-level participation in the summit.
The major goal of his China visit would be to strengthen bilateral relations.
Another key agenda would be to expedite China-funded projects in Nepal and exploring new areas of cooperation.
Nepali Foreign Minister Pradeep Gyawali said, the protocol for the Transit Transport Agreement will be signed during Oli's visit.
Two Memorandum of Understandings (MoU) are expected to be signed.
One on launching a joint feasibility study for the Nepal-China Free Trade Agreement, Kathmandu Post reported and another on formation of the joint coordination and implementation mechanism to monitor China-funded projects in Nepal.
China would provide its assistance to Nepal in a bid to sign a deal on building oil storage facilities in Nepal. The search for land has to be over within a month.
Talks about inclusion of Nepali projects under the Belt and Road Initiative of China, cross-border energy cooperation, and tourism, among others would also take place.
Oli, who advocates a balanced foreign policy and a good neighbourhood policy, visited India in April this year.