Italy and China sign a three-year economic cooperation agreement
Italian Prime Minister Giorgia Meloni announced that Italy and China have signed a three-year economic cooperation agreement during her meeting with Chinese Premier Li Kiang. Meloni, during her state visit to Beijing, stated that she intends to use the document to explore new opportunities for cooperation with China, although the contents of the text have not been disclosed. She spoke about the desire to improve trade relations with China, as reported by the Italian news agency ANSA. At the economic forum in Beijing, the Prime Minister
Investment Imbalance Criticized by Italian Minister
Last year, Italy’s trade deficit with China increased by over 40 billion euros, highlighting the imbalance in investments between the two countries. Italian Minister criticized the situation, pointing out that Chinese investments in Italy are about one-third of Italian investments in China, and expressing a desire to reduce this gap.
The Italian Minister arrived in Beijing on Saturday and is scheduled to meet with Chinese leader Xi Jinping on Monday. Relations between Italy and China have recently been strained by disagreements, especially after the Minister stated that Italy is withdrawing from certain agreements.
The Belt and Road Initiative: Italy’s Involvement
The Belt and Road Initiative is a major Chinese infrastructure project aimed at strengthening economic ties with member countries. Italy, one of the seven major industrial democracies, joined the geopolitical project in 2019 during the term of the previous Italian government.
