Italy informs China of its plan to quit Belt and Road Initiative
World
Move comes as an MoU was inked Saturday on India-Middle East-Europe Economic Corridor
ROME (Reuters/Web Desk) – Prime Minister Giorgia Meloni outlined Italy's plan to pull out of the Belt and Road Initiative (BRI) during a meeting with Chinese Premier Li Qiang at the G20 summit, Italian media reported on Sunday.
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Italy, seeking to minimise any backlash from the decision from Beijing, would as a replacement aim to revitalise a strategic partnership agreement with China, aimed at fostering economic cooperation, it first signed in 2004.
The report comes as Global leaders announced a multinational rail and ports deal linking the Middle East and South Asia on Saturday on the sidelines of the G20 summit in New Delhi.
A memorandum of understanding on the India-Middle East-Europe Economic Corridor, or IMEC, was signed by the European Union, India, Saudi Arabia, the United Arab Emirates, the US and other G20 partners.
It aims to link Middle East countries by railway and connect them to India by port, helping the flow of energy and trade from the Gulf to Europe, US officials have said, by cutting shipping times, costs and fuel use.
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Italy is the only G7 nation to sign up to the BRI, a global trade and infrastructure plan modelled on the old Silk Road that linked imperial China and the West.
Read more: China state media says developed nations not shunning Belt and Road Forum
"The prime minister (Meloni) communicated the intention to quit the project to her counterpart," the Corriere della Sera daily reported, saying Premier Li had made a last attempt to persuade the Italians to rethink.
Italian politicians have questioned the value of the BRI agreement signed by a previous administration in 2019, which has been a source of friction with Western allies due to wariness about spreading Chinese influence.
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The Italians told the Chinese that their decision had not been dictated by the United States, the report added, comments echoed by similar reports in other Italian newspapers.
Italy has the G7 presidency next year and recasting its relationship with Beijing would placate its Western allies.
Meloni and Li held talks at the G20 summit in New Delhi on Saturday to discuss deepening relations, Meloni's office said in a statement.
"Italy and China share a Global Strategic Partnership whose 20th anniversary will recur next year and which will be the beacon for the advancement of friendship and cooperation ... in every area of common interest," the statement added.
