Thursday, 21 September 2023
IndiaItaly withdraws from project; A blow to China leader

Italy withdraws from project; A blow to China leader

New Delhi, News Agency: Italy has hit back at China by withdrawing from the Build and Road project, an ambitious project to connect Europe and China along the lines of the old Silk Route. In the wake of the G-20 summit, the Italian Prime Minister informed the Chinese Prime Minister of his decision to withdraw from the project. The Italian Prime Minister also dismissed the Chinese Prime Minister’s appeal to him to reconsider.

Italian Prime Minister Giorgia Meloni told Chinese Premier Li Kuang that Italy was clearly withdrawing from the project. On this, Lee tried to persuade Meloni as a last ditch effort. But Meloni did not appreciate him.

In the next few weeks, the third meeting of the heads of member countries of the Build and Road project is being held in Beijing. Against that backdrop, Italy has decided to withdraw.

Speaking at a press conference, Meloni said that the decision to withdraw from the Built and Road project will be sealed soon. But it is equally true that Italy will not compromise its relations with China. Meloni also told the Chinese Prime Minister that there was no pressure from America and other Western countries behind Italy’s decision.

In 2004, China took the initiative to undertake the Built and Road project. Among the G7 countries, Italy was the only one to sign the agreement. Behind it was the thought of global trade growth. But for some time past there has been a feeling in Italy that it was a mistake to participate in this project. Italy’s defense minister also expressed displeasure with the deal. Italy has decided to pull out early as the agreement will expire in March 2024 and will be automatically renewed.

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