Italian Prime Minister Giorgia Meloni has reportedly indicated her country‘s intention to withdraw from the Belt and Road Initiative during a meeting with Chinese Premier Li Keqiang at the G20 summit, according to Italian media reports on Sunday.
The newspaper “Corriere della Sera” stated that “the Italian prime minister informed her counterpart of her intention to withdraw from the project, adding that the Chinese leader sought to persuade the Italians to reconsider.
Italy, which aims to minimize any harsh reaction from Beijing, plans to revitalize a strategic partnership agreement with China aimed at enhancing economic cooperation. This agreement was first signed in 2004.
Italy is the only G7 member state that signed on to the Belt and Road Initiative.
According to a Bloomberg report, the discussion took place on the sidelines of the G20 summit over the weekend.
During the meeting, Meloni assured Li that Italy aimed to exit the ambitious infrastructure initiative while still harboring intentions of maintaining friendly relations with Beijing. Italy officially joined the Belt and Road Initiative in 2019.
Italy’s decision to exit the investment pact signifies a significant policy shift and underscores the delicate balance the nation must maintain between its international relationships, especially with the United States and China
