Nepali Finance Minister Yubaraj Khatiwada on Monday expressed his belief that the China-proposed Belt and Road Initiative would help transform the economy of those partnering countries including Nepal.

The minister made the remarks here during a two-day international conference on the Belt and Road Initiative in South Asia and Nepal.

Khatiwada said the initiative created win-win situation for those countries.

"I think nobody should be skeptic about the BRI (Belt and Road Initiative) as it creates win-win situation for all who are part of it," Khatiwada said.

Proposed by China in 2013, the Silk Road Economic Belt and the 21st Century Maritime Silk Road Initiative aims to build a trade and infrastructure network connecting Asia with Europe and Africa through the ancient trade routes of Silk Road.

Noting that Nepal has already become part of the initiative, Khatiwada said Nepal would reap benefit from the enhanced connectivity.

"The initiative has opened up new opportunities for countries like Nepal. We believe that we can gain easy access to the sea and further strengthen economic ties with South Asian and Central Asian countries through enhanced connectivity," he said.

The minister added that the initiative helped to narrow the gap of physical infrastructure and investment.

Chinese Ambassador Yu Hong said the Belt and Road Initiative has adopted the principle of achieving shared benefits through extensive consultation and joint construction.