Italy signals intent to exit China’s Belt and Road initiative: Report

In a private meeting during the Group of 20 summit held in India, Italian Prime Minister Giorgia Meloni conveyed Italy's plans to withdraw from the Chinese President Xi Jinping-led Belt and Road Initiative to Chinese Premier Li Qiang. This move comes as the investment pact has increasingly become a litmus test for Italy's relations with the United States.

According to a Bloomberg report, the discussion took place on the sidelines of the G20 summit over the weekend. During the meeting, Meloni assured Premier Li that Italy aimed to exit the ambitious infrastructure initiative while still harbouring intentions of maintaining friendly relations with Beijing. Italy officially joined the Belt and Road Initiative in 2019.

The decision to withdraw from the global infrastructure pact has been a careful and deliberate one on the part of the Italian government. Meloni and her team have taken their time considering how best to communicate this significant policy shift to Beijing, with concerns of possible trade retaliation looming in the background.

Reports from earlier this year had already indicated Italy's inclination to step away from the initiative. However, Prime Minister Meloni has grappled with the challenge of delivering this decision to China while minimising the risk of adverse consequences.

As part of her diplomatic efforts, Meloni has announced her intention to visit China in the coming months. This diplomatic visit is expected to be pivotal in addressing the sensitive issue. Notably, China's ambassador to Italy had previously issued a stern warning, suggesting that there could be "negative consequences" for Italy if it proceeded with its withdrawal from the Belt and Road Initiative.

Italy's decision to exit the investment pact signifies a significant policy shift and underscores the delicate balance the nation must maintain between its international relationships, especially with the United States and China.

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