In a very welcome move,  Nepal’s two major Communist  parties declared their unification and launched the new communist party on Thursday.

The ruling Communist Party of Nepal (United Marxist Leninist) (CPN-UML) and Communist Party of Nepal (Maoist Centre) announced their unification as Nepal Communist Party at a press conference at City Hall in Kathmandu Thursday evening.

CPN-UML Chairman K.P. Sharma Oli and Maoist Centre Chairman Pushpa Kamal Dahal signed the agreement and declared the merger and formation of a single communist party in the Himalayan country.

The new party has been registered at the Election Commission after the CPN-UML and the CPN Maoist Centre dissolved their respective central committees.

The latest political development came after the seven-point party unification deal which was formally signed by the top leaders of both parties in Feb. 20. (based on press reports)