Italy Officially Exits China's Belt and Road Initiative

The Belt and Road Initiative, referred to as One Belt One Road within China. This is a comprehensive global infrastructure development strategy introduced by the Chinese government in 2013. More than 150 countries are involved in this project which includes Italy as well. The Giorgia Meloni government in Italy has officially withdrawn from the Belt and Road Initiative (BRI) of China, marking the end of its participation in the project four years after initially signing on, as reported by the news agency AFP on Wednesday, citing a government source.

In July this year, Italy's Defence Minister Guido Crosetto criticized the Belt and Road Initiative (BRI), referring to it as an "improvised and atrocious" decision made by Italy when initially signing agreements with China. Earlier in G20 summit in Delhi PM Meloni had signalled to china that they want to withdraw their agreement because it is testing Italy's relationship with U.S. In September, Bloomberg disclosed that the Italian Prime Minister conveyed to Chinese President Li Qiang the nation's intention to disengage from President Xi Jinping's prominent Belt and Road Initiative. Despite this decision, Italy aims to sustain amicable relations with Beijing.

What is Belt Road Initiative?
The Belt and Road Initiative (BRI) is designed to revitalize the ancient Silk Road, linking China to Asia, Europe, and beyond through substantial infrastructure investments. Detractors view it as a means for China to extend its geopolitical and economic influence globally.