CERNOBBIO, Italy – Trade between Italy and China has not improved as expected since Rome joined Beijing’s Belt and Road Initiative four years ago, Italy’s Foreign Minister said last week.
Under a previous government, Italy in 2019 became the first major Western nation to join China’s infrastructure initiative, despite protests from the United States.
“We will have to evaluate, the parliament will have to decide whether or not to renew our participation.”
Rome is seen as highly unlikely to renew the deal when it expires in March 2024 and has until December to formally withdraw from the accord, which will otherwise be extended for five years.
Tajani said he would leave this afternoon for a three-day diplomatic mission in Beijing. Italy’s Prime Minister Giorgia Meloni said she was planning to visit China in one of her next trips abroad.
President Joe Biden and his allies on Saturday announced plans to build a rail and shipping corridor linking India with the Middle East and Europe, an ambitious project aimed at fostering economic growth and political cooperation.
The rail and shipping corridor would help physically tie together a vast stretch of the globe, improving digital connectivity and enabling more trade among countries, including with energy products such as hydrogen. Although White House officials did not set a timeline for its completion, the corridor would provide a physical and ideological alternative to China’s own nation-spanning infrastructure program.
Reuters/ AP
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