Premier Giuseppe Conte pledged Tuesday to make Italy the first Group of Seven nation to join China's ambitious Belt and Road initiative, despite objections from the United States and concerns within his governing coalition.
Speaking to parliament, Conte said that Italy's signing of a memorandum of understanding for the infrastructure-building venture, which is due to happen during the Chinese premier's visit this week, would not "in the least" put into question Italy's position within the strategic trans-Atlantic alliance or with European partners.
Italy's signature would be considered a major legitimation of the project that envisions overland and maritime routes connecting China with Europe.
A White House official has warned Italy against joining, calling it a Chinese "vanity project."
"The infrastructure will redefine commercial traffic routes. We will have new airports, new trade corridors, and it will certainly influence our economic growth. We don't want to lose any opportunity."
"But facts will always speak louder than words."
"If the Chinese want to invest in railways and ports, fine. What is important that control remains in Italian hands."
Disclaimer: No Business Standard Journalist was involved in creation of this content
You’ve reached your limit of {{free_limit}} free articles this month.
Subscribe now for unlimited access.
Already subscribed? Log in
Subscribe to read the full story →
Smart Quarterly
₹900
3 Months
₹300/Month
Smart Essential
₹2,700
1 Year
₹225/Month
Super Saver
₹3,900
2 Years
₹162/Month
Renews automatically, cancel anytime
Here’s what’s included in our digital subscription plans
Exclusive premium stories online
Over 30 premium stories daily, handpicked by our editors


Complimentary Access to The New York Times
News, Games, Cooking, Audio, Wirecutter & The Athletic
Business Standard Epaper
Digital replica of our daily newspaper — with options to read, save, and share


Curated Newsletters
Insights on markets, finance, politics, tech, and more delivered to your inbox
Market Analysis & Investment Insights
In-depth market analysis & insights with access to The Smart Investor


Archives
Repository of articles and publications dating back to 1997
Ad-free Reading
Uninterrupted reading experience with no advertisements


Seamless Access Across All Devices
Access Business Standard across devices — mobile, tablet, or PC, via web or app
