KATHMANDU — Small and medium-sized enterprises (SMEs) from China and South Asian countries have been encouraged to utilize their complementary advantages to develop and grow together under the Belt and Road Initiative.

Addressing the opening ceremony on April 28 at South Asia-China SMEs Seminar and the third annual general meeting of the Organization for South Asian Regional Friendship and Cooperation with China (OSARFCC), Chinese Ambassador Yu Hong called on the SMEs from China and South Asian countries to seize the opportunity offered by the initiative.

Proposed by China in 2013, the Belt and Road Initiative refers to the Silk Road Economic Belt and the 21st Century Maritime Silk Road, aiming at building a trade and infrastructure network connecting Asia with Europe and Africa along the ancient trade routes of Silk Road.

Yu said that economic and trade relations as well as cooperation in the areas of tourism and culture have been growing between China and South Asia under the framework of the initiative.

A business delegation from Guangyuan city of China’s Sichuan province and the teams from Nepal, India, Bangladesh and Sri Lanka have gathered in the seminar to explore the possibility of joint investment projects.

“China’s importance in South Asia has long been felt since decision was taken to bring in China as an observer of South Asia Association for Regional Cooperation,” said Mayor of Kathmandu metropolitan city Vidya Sundar Shakya.

Anoop Ranjan Bhattarai, president of OSARFCC also urged Chinese and other South Asian entrepreneurs to make Nepal a destination of investment as the Himalayan country can be gateway to South Asia.