The first trip to Beijing made by any prime minister of Italy since being in power. Giorgia Meloni has promised to “restart” relations with China. On the Chinese side, the premier met Premier Li Qiang for a discussion at the beginning of her five-day tour. During which they signed a three-year plan to boost economic cooperation between their countries.
New deals and economic cooperation ItalyÂ
During her visit, Ms. Meloni stressed the need for a “new stage” and a desire to “relaunch our bilateral cooperation.” The two countries also agreed on joint work regarding electric vehicles and renewable energy sources. In a statement by his office, Premier Li stated that. He wanted to see more shipbuilding, aerospace, new energy. And artificial intelligence collaborations among small—and medium-sized enterprises (SMEs) between China and Italy.
Withdrawal from Belt and Road Initiative ItalyÂ
The last 12 months’ visit via Ms. Meloni came after Italy pulled out of President Xi Jinping’s Belt and Road Initiative (BRI). One reason behind this decision was the need for more benefits from large-scale Chinese investments at home. Washington and other Western capitals criticized Rome for being the only major Western nation signing up for BRI projects.
Shift towards pro-western foreign policy.
Since coming into power in 2022, Ms. Meloni has pursued an anti-Chinese stance vis-Ã -vis NATO allies more aligned with Western interests than previous Italian governments under her leadership. According to Alicia Garcia-Herrero, Natixis’ chief economist for the APAC region: “The current Italian prime minister wants it [Meloni’s visit] to be seen as partners equal terms rather than.”
Strategic moves & trade relations
Under Prime Minister Giorgia Meloni’s administration, some measures have been taken against what she sees as Beijing’s undue influence, particularly its attempts to acquire strategic assets, such as preventing the takeover of Pirelli, a tire maker controlled by state-owned ChemChina. Also, in an Italian government-backed move, Brussels levy charges up to 37.6% on EVs shipped from China.
Trade relations
However, despite this, trade between Italy and China remains healthy. In 2021, record levels of €56.3bn ($66.8bn) worth of goods were exchanged, making PRC Rome’s second largest non-EU partner after Washington in terms of value.
This trip is an attempt by Ms Meloni to reconcile her country’s economic interests with its strategic and geopolitical imperatives. It, therefore, reflects a more nuanced approach to international relations in what is increasingly viewed as a multipolar world order but one that remains complex overall.
