Italy joins the Chinese New Silk Road. The countries recorded this in an agreement during a visit by the Chinese leader Xi Jinping to Rome.

Italy is the first G7 country to sign a role in the major Chinese infrastructure project. The populist government in Rome wants to revive the troubling economy and had rolled out the red carpet for Xi.

The growing Chinese influence is viewed with suspicion in the West, but Deputy Prime Minister Luigi Di Maio said that Rome should put Italy’s economic interests first. “This is a very important day for us,” said Di Maio, who signed the so-called memorandum of understanding on behalf of his government. “Italy has won and Italian business has won.”

Italian and Chinese companies signed ten deals. One of the companies that benefits is Ansaldo, which signed a contract to make turbines. Nineteen agreements were also signed by representatives of the countries. They relate to a variety of issues, such as tackling tax evasion and Italian fruit exports to China.

About the author: Dorian Vogt

Dorian Vogt is the founder of WeeklyNewsReview project and prolific author of many articles here and beyond. His experience is in guiding others is hard to overestimate. His main interests is Zürich city topics. You can't find anyone more in the know about the local news.

Load More Related Articles
Load More In Politics

Leave a Reply

Your email address will not be published. Required fields are marked *

Check Also

Credit Suisse helping Russian clients evade sanctions, US authorities suggest

The suspicions surrounding Credit Suisse’s alleged involvement in helping Russian cl…