Nepal, Russia talk energy investment

Ekantipur Report

KATHMANDU, JUL 27 - Deputy Prime Minister and Minister for Foreign Affairs Upendra Yadav returned to Kathmandu on Wednesday morning from Moscow.

During his stay there, he inaugurated the sixth Non-Resident Nepali (NRN) Regional Conference and held meetings with Russian officials.

According to the Ministry of Foreign Affairs, Yadav met Russian Chief Justice Vyacheslav M Lebedev and Russian Acting Foreign Minister A I Denisov. During his meeting with Denisov, Yadav said Nepal has huge potentials in hydropower, human resource, agriculture and tourism and that the country was eager to strengthen cooperation with Russia in these fields. The Russian Acting Foreign Minister conveyed his readiness to help Nepal in all its endeavours for economic development.

"Yadav also met Acting Minister for Energy Anatoly Janovsky where the latter expressed his readiness to discuss any concrete proposal by Nepal regarding Russian investment in Nepal's energy development," a MoFA statement read.

DPM Yadav proposed a joint committee be set up to study viable projects and create an atmosphere for mutual investment, the statement added. In response, the Russian minister informed the Nepali side that the Director of Department of International Cooperation of the Ministry of Energy would lead the Russian side, adding the committee would be formed soon to take up concrete projects.

During Yadav's stay in Moscow, a conference of Nepali ambassadors based in European countries was organised. At the conference, Yadav instructed the envoys about linking foreign policy with economy diplomacy.

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NTV NEWS English, 27 July 2011

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