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Nepal, China to sign petroleum deal to import fuel from Beijing

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Nepal China Petroleum Deal
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Kathmandu: In a significant departure, Nepal and China have agreed to sign a long-term petroleum deal to import fuel from Beijing. With this, Nepal will end the Indian monopoly over fuel imports.

The foreign ministers of Nepal and China have directed the concerned authorities to seal the deal at the earliest, officials said.

This followed a meeting between Deputy Prime Minister and Minister for Foreign Affairs Kamal Thapa and his Chinese counterpart Wang Yi in Beijing on Friday.

For exploring the possibilities of importing fuel on an urgent basis, a two-member team from the ministry of commerce and supplies and the Nepali Oil Corp has reached Beijing.

Thapa is the senior most Nepali official to visit China after Kathmandu came out with a new constitution, protests against which have virtually sealed the India-Nepal border creating major shortages in Nepal.

“By overcoming the harsh geographical and environmental conditions, for the first time, we have agreed to supply fuel to Nepal that it urgently needs. Foreign Minister Thapa and I had very in-depth talks and reached a broad consensus,” Yang said at a joint press meet in Beijing with Thapa.

Thapa said: “I am very happy to note that China has instructed the petroleum export authority to be in touch and discuss issues related with the long-term trade of petroleum products with Nepal.”

A press statement issued after the meeting by the foreign affairs ministry stated that China had expressed a desire to seriously examine Nepal’s proposals to import petroleum products from Beijing.

The two countries will jointly examine matters relating to price, transportation, and logistics. As a friendly gesture, China will provide additional fuel to Nepal’s northern areas bordering Tibet.

Nepal and China also agreed to upgrade and operationalize the existing border points and develop the other border points to promote connectivity between the two countries.

China has agreed to give priority to the reopening of the Tatopani-Zhangmu border point, which had been disrupted after the April earthquake that killed thousands in Nepal.

The intergovernmental mechanisms have been tasked to advance negotiations on the proposals on a free trade area, transit and Bilateral Investment Protection and Promotion Agreement (BIPPA).

Thapa and Wang also discussed a transit treaty between the two countries.

Thapa said the treaty would enable Nepalese to access travel and goods from other countries through Chinese ports.

On India-Nepal relations, Thapa said: “Immediately after the promulgation of the constitution, there has been some misunderstanding between Nepal and India.

“Because of this, India imposed unofficial obstruction on transit and supply of fuel and other essential commodities,” he said.

“That caused a severe impact on the Nepalese society. It also had a negative impact on our economic growth. But I am very happy to say at this point of time that things are moving and improving,” said Thapa. (IANS)

(Photo: kathmandupost.ekantipur.com)

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Apple Launches a $300 Million Fund to Bring Clean Energy to China

In September 2016, Apple opened its first China R&D centre in Beijing's Zhongguancun Science Park, often referred to as "China's Silicon Valley"

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The China Clean Energy Fund will be managed through a third party, DWS Group, which specialises in sustainable investments and will also invest in the fund, Apple said.
The China Clean Energy Fund will be managed through a third party, DWS Group, which specialises in sustainable investments and will also invest in the fund, Apple said. Pixabay

Amid heightened trade tensions between the US and China, tech giant Apple has joined hands with its suppliers to launch a $300 million clean energy fund in China.

The “China Clean Energy Fund” will invest in and develop clean-energy projects totalling more than 1 gigawatt of renewable energy in China, the equivalent of powering nearly 1 million homes, Apple said in a statement on Thursday.

“At Apple, we are proud to join with companies that are stepping up to address the climate challenge,” said Lisa Jackson, Apple’s Vice President of Environment, Policy and Social Initiatives.

The Cupertino, California-headquartered tech giant said 10 of its initial suppliers have come forward to jointly invest in the nearly $300 million fund over the next four years.

“We’re thrilled so many of our suppliers are participating in the fund and hope this model can be replicated globally to help businesses of all sizes make a significant positive impact on our planet,” Jackson said.

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Apple in 2017 announced it would invest nearly $500 million in China to build two new R&D centres in Shanghai and Suzhou. Pixabay

By virtue of its size and scale, the China Clean Energy Fund will give its participants the advantage of greater purchasing power and the ability to attain more attractive and diverse clean energy solutions.

The China Clean Energy Fund will be managed through a third party, DWS Group, which specialises in sustainable investments and will also invest in the fund, Apple said.

Also Read: Apple Updates MacBook Pro with Faster Performance And New Features for Pros

The announcement to invest in the clean energy fund in China follows Apple’s announcement earlier in 2018 that its global facilities are powered by 100 per cent clean energy and the launch of its Supplier Clean Energy Programme in 2015.

Apple in 2017 announced it would invest nearly $500 million in China to build two new R&D centres in Shanghai and Suzhou.

In September 2016, Apple opened its first China R&D centre in Beijing’s Zhongguancun Science Park, often referred to as “China’s Silicon Valley”. (IANS)