BREAKING

Italy withdraws from China's Belt and Road Initiative

By Al Mayadeen English
Source: Agencies
6 Dec 2023 16:27

While neither side has published an official communication, an Italian government source confirmed to AFP that Rome had pulled out.

Italian Prime Minister Giorgia Meloni speaks during a press conference on Dec. 3, 2023 (AP)

Italy has withdrawn from China's Belt and Road Initiative, more than four years after becoming the only G7 nation to sign up, a government source said Wednesday.

Rome informed Beijing of its decision three days ago, according to Italian newspaper Corriere della Sera, which first broke the news.

While neither side has issued an official communication, an Italian government source confirmed to AFP that Rome had pulled out.

No other details were provided by the source beyond saying it was done in such a way as to "keep channels of political dialogue open."

Reuters also reported that Italy has officially informed China of its intention to exit the Belt and Road Initiative (BRI).

Back in 2019, Italy was the first and only major Western country to join the initiative, going against the United States' warnings of Chinese access to technologies and infrastructure in the West. However, since Prime Minister Giorgia Meloni took office last year, she declared her intention to withdraw from the deal, saying it had brought no significant gains to Italy.

The deal was due to automatically renew in March 2024 unless Italy opted out by the end of this year by sending a formal request of withdrawal three months before said date.

Meloni affirmed Italy's intentions to maintain positive relations with China, saying G7 nations that are not part of the BRI remain close to China regardless.

Putin in China for BRI summit

The Belt and Road Initiative summit in China saw various diplomatic interactions back in October.

Chinese President Xi Jinping began the summit with talks with Chilean and Kazakhstan presidents Gabriel Boric and Kassym-Jomart Tokayev respectively.

Russian President Vladimir Putin was a prominent guest at the summit, and China and Russia displayed a united front in their diplomacy ahead of the forum.

The US continues its intervention

Washington is hoping to unveil a plan to establish a railway network connecting Gulf and Arab countries as the United States increases hasty efforts to counter China's advanced Belt and Road Initiative BRI, Axios reported back in May citing sources.

As China's relations with West Asia - a main component of the BRI - grow stronger compared to waning US influence, the White House is hoping that the project will restore its power in the region.

The concept was first proposed by "Israel" in 2022 during I2U2 talks. US President Joe Biden later in 2023 expanded on the concept of including Saudi Arabia's participation.

The railway will be also connected to India through seaports in the Gulf. However, Washington's involvement in this strategic land trade route, aside from applying pressure, remains vague due to its distant geographic location.