China and Italy’s Successful Cooperation Highlighted by Chinese Foreign Minister
Chinese Foreign Minister Wang Yi has emphasized the successful cooperation between China and Italy under the Belt and Road initiative. Notably, Wang has highlighted the significant increase in trade volume between the two countries over the past five years, from $50 billion to nearly $80 billion.
Italy, being the first major Western nation to join the Belt and Road initiative, has expressed doubts and uncertainty about its membership. Italian Deputy Prime Minister Antonio Tajani, in particular, states that bilateral trade has not improved as expected, and the decision to renew Italy’s participation will be determined by the parliament.
If Italy decides not to renew its participation, it has until December to formally withdraw from the accord; otherwise, it will be extended for another five years. This potential withdrawal from the Belt and Road initiative could be diplomatically embarrassing for China.
In light of these discussions, China has urged mutual respect, openness, and cooperation in its relationship with Italy. It is willing to continue with openness and win-win cooperation in the face of new situations and opportunities.
Furthermore, the achievements of the Belt and Road initiative are expected to be showcased at an international forum in Beijing in October. This forum will provide a platform to highlight the successes and potential of the initiative, which aims to improve connectivity and promote economic cooperation among participating countries.
The cooperation between China and Italy under the Belt and Road initiative has undoubtedly brought about significant changes and progress. The increase in trade volume between the two countries serves as a testament to the positive impact of the initiative. However, the doubts voiced by Italian officials underscore the challenges and complexities associated with such partnerships.
As both countries navigate these discussions, it remains to be seen how Italy’s decision will ultimately impact its relationship with China and the wider implications for the Belt and Road initiative. In the meantime, China is hopeful that the cooperation and achievements thus far will encourage continued openness and cooperation between the two nations.
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