Italy Officially Announces Withdrawal from China’s Belt and Road Initiative
The Italian government, led by Prime Minister Giorgia Meloni, has made good on its electoral promises by informing China that Italy is quitting the Belt and Road Initiative (BRI). The BRI, initiated by the Chinese government in 2013, is a strategy aimed at connecting Asia with Europe and Africa. Italy joined the initiative back in 2019, becoming the only major Western nation to do so.
However, the recent announcement of Italy’s withdrawal from the BRI has prompted concerns that it may disrupt relations with China and potentially damage the Italian economy. The United States has previously warned its partners about China’s potential to take control of sensitive technologies and vital infrastructure through the BRI.
Italy’s decision to leave the BRI comes after Prime Minister Giorgia Meloni took office in 2022. She has stated that the initiative has brought no significant gains to Italy, leading to the decision to withdraw from the deal. The signed agreement is set to expire next March, and Italy has reportedly sent a letter to Beijing informing them of the decision not to renew the deal.
While some may worry about potential fallout from this decision, Italian officials have reassured that they intend to maintain excellent relations with China, despite no longer being part of the BRI. They pointed out that other G7 nations have closer relations with China, despite not being part of the initiative.
Since 2013, over 100 countries have signed agreements with China to cooperate on BRI infrastructure and building projects. Despite hopes for trade benefits, Italian exports to China have not seen significant increases, while Chinese exports to Italy have risen sharply.
Former Prime Minister Giuseppe Conte had hoped for trade benefits through the BRI, but it became clear that Chinese firms were the main beneficiaries. Italian exports to China totaled 16.4 billion euros last year, while Chinese exports to Italy rose to 57.5 billion euros over the same period.
The decision to leave the BRI has raised questions about the future of Italy’s strategic ties to China, especially as Prime Minister Meloni has expressed her intention to visit Beijing. Many in the West view the BRI as a tool for China to flex its geopolitical and economic muscles, aimed at vast amounts of infrastructure spending on roads and shipping routes.
Last July, Italy’s Defence Minister, Guido Crosetto, described joining the BRI as a poor decision, stating that it boosted China’s exports to Italy without reciprocal benefits for Italian exports to China. He expressed concerns about China’s increasingly assertive attitudes and its ambitions to expand, particularly in Africa.
Despite the decision to withdraw from the BRI, Italy is looking to maintain strategic ties with China while also asserting its conservative credentials as a NATO leader. Prime Minister Meloni aims to balance relations with both China and other Western allies.
As Italy moves forward with its decision to distance itself from the BRI, the implications for its foreign policy and economic relations with China will be closely monitored. The move may also have ripple effects across other European nations and their relationships with China.
