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Two Italian government sources said on Wednesday that Rome has officially notified Beijing of its decision to pull out of the BRI. The announcement signals the end to months of uncertainty towards Italy’s part in this mega initiative.
In 2019, Italy was the first, and is currently the only major Western state, to become a member of the BRI project, which has been questioned by the US. Apprehension was expressed by the United States at Italy’s participation as it would let China take hold of sensitive equipment and vital infrastructures.
Giorgia Meloni took her office last year stating that she wanted to withdraw Italy from BRI since it did not bring her a profit. Italy had taken part in the BRI, which copied the ancient silk road linking China with the west and was the largest western country to participate since its establishment.
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This agreement had an extension date to March 2024, and there would be an automatic renewal if Rome did not notify the authority in writing at least three months before its termination. This latest proclamation sees Italy telling China that it will no longer be part of the belt and road initiative.
As reported by one government source, Italy informed Beijing in a just inferred “letter in recent days” that it would not continue with the Belt and Road Initiative (BRI) agreement. This notwithstanding, Italy’s relationship with China is expected to remain solid irrespective of BRI.
The second official Italian source highlighted that Italy seeks good ties with China, added that most non-BRI G7 countries have close relationships with China. Presidency of the G7 will fall on Italy in 2024.
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