Italy withdrew from China's "Modern Silk Road" project
The Italian government has sent a formal notice to the Chinese embassy in Rome to withdraw from China's Belt and Road Initiative. This was reported by Corriere della Sera newspaper.
In the note, Italy told China it would not extend its participation in the initiative, known as Beijing's initiative to revive trade on the site of the historic Great Silk Road.
Deputy Prime Minister and Foreign Minister Antonio Tajani said in a statement: "The Silk Road is not our priority, we have seen that it has not produced the desired effects. Those who have not participated in it have achieved better results."
Italy was the only G7 country to participate in the Belt and Road Initiative.
Italy was included in the Belt and Road Initiative in March 2019 through a memorandum of understanding signed in Rome with Chinese President Xi Jinping during the 1st Conte government led by Giuseppe Conte.
In August, Italian media reported that Italy was "looking for a delicate way out" of the Belt and Road Initiative.
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