The Chinese Foreign Ministry insisted on Tuesday that the Belt-and-Road trade infrastructure project that Italy signed up to in 2019 to increase exports to China was in the interest of all after Italian media reported that Rome was planning to let the deal expire
MOSCOW (Pakistan Point News / Sputnik - 25th July, 2023) The Chinese Foreign Ministry insisted on Tuesday that the Belt-and-Road trade infrastructure project that Italy signed up to in 2019 to increase exports to China was in the interest of all after Italian media reported that Rome was planning to let the deal expire.
"Belt and Road cooperation began as a new platform for China-Italy practical cooperation. It has achieved mutually beneficial results in a range of areas. It is in both sides' interests to further tap into the potential of our Belt and Road cooperation," ministry spokesperson Mao Ning told a daily briefing.
Italian Prime Minister Giorgia Meloni said in May that Italy was planning to discuss a possible withdrawal from the Belt-and-Road Initiative. The deal is set to expire in March 2024 and will be renewed automatically unless either side decides to pull out.
Italian daily La Repubblica reported, citing sources familiar with the talks, that Italy was in general prepared to announce its withdrawal after coming under pressure from both Brussels and Washington. Meloni is due in Washington on Thursday to discuss its China ties with President Joe Biden.
