Italy China Silk Road Agreement

Zeno D`Agostino, the president of the Trieste Port Authority, which signed one of the agreements in Rome on Saturday, said it was natural for Italians to look at China because the Trump administration has withdrawn from the world. In recent decades, China has already financed a number of infrastructure projects in Italy involving railways, roads and ports. Chinese construction companies were financed by loans from Chinese banks. In 2019 alone, Chinese imports to Italy accounted for more than double Italy`s exports to China. The agreements signed in Rome are amid the question of whether Chinese company Huawei should be allowed to set up vital communication networks, after the United States expressed concerns about Beijing`s ability to help Beijing spy on the West. It is true that the topics discussed in the MoU on relations between Italy and China are broad. Topics include dialogue on strategies to improve networking between countries; Transportation, logistics and infrastructure; Removing barriers to trade and investment Financial cooperation Interpersonal connectivity Environmental cooperation. Italy should take into account the European dimension in its dialogue with China, which the EU has seen as a negotiating partner, a trade competitor and a political rival. At the same time, other important EU partners have developed favourable relations with Beijing, although they do not always show a sense of community that Rome does not unambiguously stress. Italy is an ally and founder of NATO, firmly rooted in the West. This push to China seems to indicate that in the hearts and minds of many people saw the idea of a transition to an unprecedented balance, evidenced by the turmoil that characterizes the acute phases of the trade war between the Trump administration and China: a struggle of duties interpreted as an opportunity for Italian brands to replace American brands in the huge Chinese market. The Silk Road has been used for centuries to transport Western Chinese exports of gold and other precious metals and stones, tea, porcelain, perfumes, rice, paper and gunpowder. Imports to China included horses, saddles and mounts, vines and grapes, dogs and other exotic and domestic animals, animal skins and skins, honey, textiles, slaves, weapons and armor.

Updated on 25 March 2019. On 22 March, following President Xi Jinping`s visit, Italy signed a comprehensive economic agreement with China as part of the “New Silk Road”.