SATV, Kathmandu, Dec 16: A historic moment in Sino-Nepalese economic and trade cooperation was witnessed in Kathmandu, with the formal signing of a strategic cooperation memorandum for the export of thermally processed buffalo meat products to China. The program was jointly organized by Shanghai Ziyan Food Ltd. and Slaughterhouse Association of Nepal.

During the recent visit of Honorable Prime Minister Mr. KP Sharma Oli to China, Nepal and China signed the protocol of exporting thermally processed buffalo meat to China. This is a huge milestone in the sector of agriculture and buffalo farming. The protocol states that the animal has to be born and raised inside the country. It has suddenly opened a door that can stop the migration of rural community mainly from the hilly region. Buffalo farming can bring the prosperity to lower socio-economic strata population of Nepal.

Minister for Agriculture and Livestock Development of Nepal, Ramnath Adhikari, emphasized the government's unwavering commitment to ensuring the provision of high-quality buffalo meat for local consumers, while strictly adhering to the export standards set by the Chinese government. He expressed confidence that the agreement would serve as a powerful catalyst, further motivating farmers to engage in buffalo farming and injecting new vitality into the prosperity of Nepal's agricultural sector.

Chinese Ambassador to Nepal, Chen Song, reflected on the longstanding friendship between the two nations in his speech, highlighting that the buffalo meat export project marks another significant milestone in bilateral cooperation. He also expressed satisfaction with the successful implementation of the buffalo meat export agreement signed during Prime Minister Oli's visit to China, revealing through a tweet that the agreement is expected to bring substantial benefits to Nepalese farmers. China's vast and diverse consumer market will provide expansive sales opportunities for Nepal's high-quality buffalo meat products, potentially establishing a new model for Sino-Nepalese economic cooperation that continuously delivers benefits to the peoples of both nations.

During the event, Nepal’s Himalayan Foods International Pvt. Ltd. and China's Shanghai Ziyan Food Ltd. signed the MOU, establishing a solid platform for corporate collaboration on the project.

Zhong Huaijun, President of Shanghai Ziyan Food Ltd., announced that the project plans to invest $200 million, with Himalayan Foods International Ltd. responsible for implementation. The aim is to establish the most advanced buffalo meat industry chain in South Asia, covering breeding, slaughtering, processing, logistics and trade.

Once operational, the project is expected to bring positive benefits to Nepal's economic and social development, generating approximately $1.5 billion in foreign exchange revenue annually, reducing trade deficits, and enhancing economic strength. Around 200,000 farming households will see an average annual income increase of $7,000 through the farming model, while the project is set to directly create 10,000 jobs and indirectly support nearly 1 million jobs.

Zhong believes that this project will not only drive significant growth in Nepal's buffalo meat industry but also deepen cooperation between China and Nepal in economic and cultural fields, opening new avenues for mutually beneficial outcomes.

With the formal signing of the strategic cooperation memorandum for the export of processed buffalo meat to China, cooperation between the two countries in agriculture is set to expand both in breadth and depth, writing a new chapter in the friendly cooperative relationship between China and Nepal.