Italy Wants To Get Out Of 'Atrocious' BRI Deal With China Without Harming Ties
Italy has said that its decision to join China's Belt and Road Initiative was 'improvised and atrocious', adding that the deal has made Beijing the only winner.
Italian defence minister Guido Crosetto has said that by joining China’s Belt and Road Initiative (BRI), Italy made an "improvised and atrocious" decision, adding that the initiative had done little to boost their exports and has made China the only winner, reported BBC. Notably, Italy joined the BRI in the year 2019 becoming the first developed economy to do so. The move had drawn massive criticism by its Western allies, BBC further said.
"The decision to join the (new) Silk Road was an improvised and atrocious act that increased Chinese exports to Italy without having the same effect on Italian exports to China," Crosetto told Italian newspaper Corriere della Sera, as per BBC.
He added that Italy now needs to see how it can get out of the deal without adversely impacting its relations with China.
"The issue today is: how to walk back (from the BRI) without damaging relations (with Beijing). Because it is true that China is a competitor, but it is also a partner," Crosetto said.
The minister further said, according to BBC, that Beijing had become increasingly assertive on the world stage, and hence Italy would have to find a way to exit from the deal "without producing disasters".
BRI, a global investment programme, intends to rebuild the old Silk Road trade route to connect China with Europe and beyond. As per BBC, Beijing previously said that both Italy and China witnessed "fruitful results" due to BRI.
Under the initiative, China funds major infrastructure projects around the world with an aim to speed Chinese goods to markets at farther places as well, the BBC stated. As per the report, the European Union and the US expressed concern when Italy announced to join the scheme four years ago.
Italy’s Prime Minister Giorgia Meloni in May had said she wanted talks with China about possibly withdrawing hinting towards a possible exit. BBC reported that the deal will be automatically renewed in March 2024 unless Italy makes a formal request to withdraw from it by December this year.
Earlier, the Chinese foreign ministry said it believed "China and Italy should further explore their cooperation potential" under the BRI and "strengthen mutually beneficial cooperation to seek more fruitful cooperation results," quoted BBC.
The report added that Beijing sent senior officials in an attempt to lobby its case and persuade Italy through a diplomatic campaign.
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