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Italy withdrew from the Belt and Road Initiative Info

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Italy withdrew from the Belt and Road Initiative  Info

Italy withdrew from China’s Belt and Road project.

Izvor: Youtube/Fratelli d’Italia/ScreenSho

Italy, the only G7 country to join China’s flagship “Belt and Road” initiative, will leave the global infrastructure program when its contract expires next year.

Prime Minister Đorđa Meloni confirmed this information on Thursday. Meloni, however, stressed that Rome could maintain good ties with Beijing outside the program, which has expanded China’s global influence while raising concerns that it has burdened some countries with unmanageable debt.

“I think we should improve our cooperation with China in trade, in the economy,” Meloni told reporters, according to Reuters, in her first public comments on the issue after reports that Italy had informed China of its decision not to extend the pact after it expires. in March 2024. “The tool (BRI) did not produce the results that were expected,” she added, according to CNN.

Italy’s move comes as the European Union launched a campaign to “de-risk” its supply chains from China and secure sensitive technologies after the bloc deemed Beijing a “systemic rival” in 2019.

(WORLD)

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