Italian Prime Minister Giuseppe Conte confirmed that his government intends to sign a memorandum of understanding with the Chinese government for its Belt and Road Initiative (BRI). The huge infrastructure plan aims to create a sort of modern Silk Road, with rail, road and port projects.
Conte said the memorandum is a non-binding framework agreement and not an international accord. The moved came despite government tension between senior partner the 5-Star Movement (M5S), which is in favour of the deal, and Lega which has warned against it.
Deputy Premier and Labour and Industry Minister Luigi Di Maio, the M5S leader, said that signing up for China’s infrastructure initiative is not a political agreement with China but a trade opportunity and that the US have no cause to be concerned, they remain Italy’s main ally.
Government sources indicated that the Italian government is expected to give the green light to the memorandum, to be signed with visiting President Xi Jinping later this month, without any major modifications to the framework agreement.
But Lega sources said checks would have to be made on how far the deal affects Italy’s telecommunications and ports sectors because national security comes before everything else they insisted.
Conte sought to allay fears, saying that “we are the only ones to have stressed respect for EU rules” and underscoring that “we will reinforce golden power to reinforce national interests”. He stressed that “strategic assets are not covered in the memorandum”.
The US and the EU have voiced concern about Italy joining the BRI.
The BRI aims to revive and extend those routes via networks of upgraded or new railways, ports, pipelines, power grids and highways. President Xi Jinping champions his pet project as a means to spur development, goodwill and economic integration. Critics are wary of an increasingly assertive superpower’s push to spread its influence.
