Italy 'Privately Signals' To China It Wants to Exit Belt and Road Initiative: Report

Italian Prime Minister Giorgia Meloni has privately conveyed to Chinese Premier Li Qiang that Italy is in the process of withdrawing from the Belt and Road Initiative (BRI), a massive infrastructure project launched by China in 2013.

The BRI agreement was signed by Italy and China in 2019, making Italy the first G7 country to join the initiative. However, the Italian government has come under increasing criticism for the deal, with some officials calling it an "improvised and regrettable" decision.

In July 2023, Italian Defense Minister Guido Crosetto said that the BRI had "failed to meet Italian expectations" and that the government was "reviewing" its participation in the initiative.

Rumors of Italy reconsidering its participation in the BRI and seeking an exit have been circulating since the latter part of 2023. However, during the prestigious 18th Group of 20 (G20) Summit held in India's Delhi, Italy's PM Meloni signaled to China that they intend to terminate the agreement, which has been putting Italy's relationship with the United States to the test, as reported by Bloomberg.

According to Bloomberg's sources familiar with the matter, PM Meloni informed Li that Italy plans to withdraw from Chinese President Xi Jinping's signature Belt and Road Initiative while still aiming to maintain friendly relations with Beijing.

Italy officially joined the BRI in 2019. Meloni has announced her intention to visit China in the coming months, acknowledging that this issue is sensitive, especially in light of China's ambassador to Italy's warning of "negative consequences" if Italy were to withdraw from the agreement.

Notably, Italy's decision to join the BRI made it the only major Western country to take such a step. The BRI initiative is designed to revitalize the historic Silk Road by connecting China to Asia, Europe, and other regions through substantial infrastructure investments. Critics view it as a means for China to expand its geopolitical and economic influence.

Italy's Defence Minister had previously criticized the decision to join the "new" Silk Road, stating that it had significantly boosted China's exports to Italy without reciprocating the same benefits for Italian exports to China.

Meloni reiterated in July her perspective that it is a "paradox" for Italy to be part of the BRI, given that it is not the G7 country with the highest trade volume with China. She emphasized that it is possible to maintain positive relations with Beijing without being part of the Belt and Road Initiative.