Italy PM Meloni signals exit from Belt and Road Initiative to China
Giorgia Meloni confidentially informed Premier Li Qiang of China that Italy intends to withdraw from Belt and Road investment agreement that has come to represent a test of her country’s ties with the US.
According to a person with knowledge of the situation who asked to remain anonymous, Meloni informed Li during a meeting on Saturday outside of the Group of 20 summit in India that Italy intends to leave President Xi Jinping’s signature Belt and Road Initiative while still attempting to uphold cordial ties with Beijing. Italy formally joined the agreement in 2019.
In order to avoid trade retaliation, the Italian prime minister has been hesitant to announce her country’s intention to withdraw from the international infrastructure agreement.
Bloomberg said earlier this year that Italy has informed partners of its intention to leave the effort, but Meloni has struggled for months with how to inform Beijing of this choice while minimizing the possibility of reprisal.
The matter is delicate, especially because China’s ambassador to Italy warned that Italy would face “negative consequences” if it withdrew from the pact. Meloni has said she will travel to China in the upcoming months.