BEIJING, March 21 -- China and Nepal on Monday signed a memorandum of understanding on a feasibility study on a free trade area (FTA), the Ministry of Commerce (MOC) said on Monday.
Minister of Commerce Gao Hucheng and his Nepalese counterpart signed the memorandum, according to an MOC statement on its website.
The two countries will set up a working group to research areas of common concern, according to the statement.
Ties between China and Nepal have seen sound development in recent years. China has become Nepal's second-biggest trading partner and its major source of foreign direct investment.
China's non-financial outbound direct investment in Nepal was 32.03 million U.S. dollars in 2015. Bilateral trade hit 866 million U.S. dollars.
The FTA will further boost bilateral trade and investment, the statement said.
Thai most beautiful transgender Nong Poy release new photos
Now and then photos of Shanghai Jiaotong University
Is this what air travel will look like in 2050?
Aerial view of watermelon terraces in S China's Baise
Traditional wedding of a post-80s Tibetan couple
Models in cheongsams present classical oriental beauty
Second commissioned C28A corvette made by China enters Algerian Navy
Intoxicating Wuyuan in spring
Gold and silver wares of Qing Dynasty exhibited in Shenyang Imperial Palace
Top 20 hottest women in the world in 2014
Top 10 hardest languages to learn
10 Chinese female stars with most beautiful faces
China’s Top 10 Unique Bridges, Highways and Roads
Textbook piracy crackdown unlikely to work, greater awareness needed: experts
After two-child policy, sperm banks struggle to collect enough donations
Foreign investors to gain more access to China: minister
Overseas forces feed on disappearance cases to hype their rhetoricDay|Week
