Italy Wants to Exit the Chinese "New Silk Road" Project

Italy intends to withdraw from the Chinese initiative "Belt and Road Initiative" (BRI), also known as the New Silk Road, as it has not resulted in an increase in the country's exports. This was stated by the Minister of Defense, Guido Crosetto, in an interview with Corriere della Sera.

Crosetto pointed out that the main issue is how to exit the initiative without damaging relations with China, as China is both a competitor and an important partner for Italy.

"There is an agreement with China regarding the Silk Road, which needs to be terminated 'without harm.' There is also an agreement with the EU regarding PNRR (editor's note: a strategic plan aimed at modernizing and improving the Italian economy to make it more resilient, innovative, and competitive), which brings along unresolved issues and requires more diligent work from parliament to achieve its goals. But there is also a war, which is the most important matter for the Minister of Defense," emphasized Guido Crosetto.

The Minister believes that joining the "Silk Road" was an ill-considered and unfavorable step taken by the previous government of Giuseppe Conte, which led to a decline in export results. Crosetto explained that after joining the initiative, their orange exports increased, but the surge in Chinese exports to Italy negatively affected the country's economy.

"The decision to join the Silk Road was an improvised and malicious act of the Giuseppe Conte government, which resulted in a double negative outcome. We exported many oranges to China, and they tripled their exports to Italy in three years. The funniest part was that Paris, without signing any agreements, was selling airplanes to Beijing for tens of billions at that time," said the Italian Minister of Defense.

In 2019, Italy became the first G7 country to join the "Belt and Road Initiative" - China's global initiative for trade, economic, cultural, and scientific-technological cooperation. The project aims to create the most extensive transport and logistics network between China and Western European countries.

The initiative has faced criticism, with some accusing it of increasing China's geopolitical and economic influence. Recently, Italy's Prime Minister, Giorgia Meloni, stated that the government is still discussing the matter of the "Silk Road" and will make a decision by December, following a trip to Beijing and meetings with representatives from China.