Wed, 24 Apr 2019

Italy, China Sign Pact Deepening Economic Ties

Voice of America
23 Mar 2019, 23:36 GMT+10

ROME - Italy has signed a memorandum of understanding with China in support of Beijing's Belt and Road initiative, which aims to weave a network of ports, bridges and power plants linking China with Africa, Europe and beyond.

Premier Giuseppe Conte and Chinese President Xi Jinping shook hands during a ceremony in Rome on Saturday, after 29 separate sections of the memorandum were signed by members of both governments.

With the memorandum, Italy becomes the first member of the Group of Seven major economies that includes the United States, to join Belt and Road, following Portugal's embrace of the initiative in December.

Italy's involvement gives China a crucial inroad into Western Europe and a symbolic boost in its economic tug-of-war with Washington.

More Beijing News

Access More

Sign up for Beijing News

a daily newsletter full of things to discuss over drinks.and the great thing is that it's on the house!