Experts, economists and politicians have underscored the need of exploring the areas in which the South Asian region can benefit from the One Belt One Road (OBOR) initiative proposed by China.
Participants of a symposium organized in Kathmandu on Thursday pointed out that given the existing infrastructural and other conditions in South Asia and particularly in the under-developed countries of the region such as Nepal, Bangladesh and Bhutan, they may not benefit from the China-proposed grand project.
They, however, described the OBOR project as a very important opportunity for transforming countries like Nepal into developed countries by improving infrastructure and connecting them to various other countries.
"Now, Nepal is in need of transforming itself into a land-linked country and this Belt and Road project can be very helpful in realizing our goal," said CPN-UML Secretary Pradeep Gyawali at the interaction titled 'One Belt, One Road: Opportunity for Nepal and South Asia' organized by the Nepal-China Friendship Forum. "We need to conduct more research on feasibility, potential and challenges of this project in our perspectives."
Prof Prabir De of the Research and Information System for Developing Countries (RIS), New Delhi, however, expressed doubt about South Asian countries deriving any benefit from the project.
He argued that the project's main destination is the European markets and its other focus is East Asia whereas South Asia has no role in it.
"This is just a beginning and now it doesn't include South Asia with any role. The Chinese foreign ministry should come out with concrete proposals and open formal discussions on this project," said De.
Prof Huang He of the School of International Relations and Public Affairs at Fudan University, Shanghai said that Nepal is an important connection and once major Nepali cities are connected through OBOR Nepal can benefit by reducing transportation costs significantly.
Stating that Chinese companies have mature and advanced technology in building roads and other infrastructure in the Himalayan region, Huang said Nepal can benefit in developing hydroelectric projects as well.
He was of the view that some issues such as controlling pollution and communicable diseases and tackling natural disasters such as earthquakes require regional cooperation and projects like OBOR can be helpful for each country.
Former vice-chairman of the National Planning Commission, Dr Shankar Sharma, said that the project establishes not only physical connectivity but also soft integration by harmonizing rules and regulations between countries.
Stating that Nepal's infrastructural development is in a very poor state, Sharma said that OBOR can help Nepal improve the situation and eventually reduce transportation costs.
He said Nepal's participation in OBOR can help diversify its trade, something which is much needed by the country.
"Poor infrastructure is our major bottleneck in development. Joining OBOR can certainly help increase trade volume but we need to work really hard for increasing the volume of exports," he further said.
At present, the trade volume between Nepal and China is around Rs. 104 billion, but exports from Nepal are very dismal at merely around Rs. 2.4 billion.
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