Belt and Road China deal didn’t convey anticipated outcomes

AFP / Henry Nicholls

Trade between Italy and China has not improved as anticipated since Rome joined Beijing’s Belt and Road Initiative 4 years in the past, Italy’s Foreign Minister stated on Saturday.

Under a earlier authorities, Italy in 2019 turned the primary main Western nation to hitch China’s infrastructure initiative, regardless of protests from the United States.

“The Silk Road did not bring the results we expected,” Antonio Tajani stated on the European House Ambrosetti financial discussion board shortly earlier than leaving on a visit to China.

“We will have to evaluate, the parliament will have to decide whether or not to renew our participation.”

Rome is seen as extremely unlikely to resume the deal when it expires in March 2024 and has till December to formally withdraw from the accord, which can in any other case be prolonged for 5 years.

Tajani stated he would depart for a three-day diplomatic mission in Beijing this afternoon. Italy’s Prime Minister Giorgia Meloni stated she was planning to go to China in one in every of her subsequent journeys overseas.