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Italy join ‘Belt & Road’ to boost exports

Deputy Prime Minister of Italy Luigi Di Maio is looking at joining the China’s ‘Belt & Road’ infrastructure project, but will not be associating with any political agenda with China. The sole purpose of joining will be to boost local Italian exports.

On Sunday White House Spokesperson Garrett Marquis said the Chinese venture was just a ‘vanity project’ and Italy should stay clear of.

Led by Chinese President Xi Jinping, the Belt & Road initiative (BRI) will be using the using ancient Silk Road that aims to link China by sea and land with southeast and central Asia, the Middle East, Europe and Africa.

President Xi aims to exchange is areas such as science, technology and culture aside of trade and investment.

Responding to the White House Di Maio said ‘We are well aware of the alarm raised by US. But our soul purpose will be only to boost Italian exports and will not be striking a political deal with China. The Chinese market are hungry for made in Italy products’.

Italian Prime Minister Giuseppe Conte said he will be signing an agreement with President Xi during his state visit to Italy from 22 to 24 March.

Some of the European countries who have agreed for BRI initiative include Croatia, Czech Republic, Hungary, Greece, Malta, Poland and Portugal. If Italy signs, it would be the first members of the Group of Seven industrial powers to do so.

With recession in Italy happening for third time in a decade. The Italian government is looking at boosting their economy and revive the construction sector.

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