As a strategic country in the Mediterranean Sea, Italy aims to become an important partner in linking European countries with China. The recent trip to China’s southwestern city of Chengdu, where Italy was a guest of honor at the 17th Western China International Fair, Italian Deputy Prime Minister and Minister for Economic Development, Labor and Social Policies Luigi Di Maio, asserted that Italy looks forward to becoming the first G7 country to fully embrace the Belt and Road Initiative (BRI) by the end of the year through signing an official Memorandum of Understanding with China.

As a systematic project, BRI is an inclusive project which aims at linking Asian, European and African countries more closely through the promotion of beneficial win-win cooperation. Connectivity is not only at an infrastructural level. In fact, BRI looks at market potential in the Afro-Eurasian region while promoting investment and consumption through creating demands and job opportunities. BRI also looks to link people of different cultures together and build a community with a shared future for mankind.

In achieving the goals set by the BRI, which are also fully in line with the UN Agenda 2030 for Sustainable Development, Italy and China are two important global leaders, which play a pivotal role in making this ambitious project happen. In Chengdu, the Italian government signed a series of bilateral agreements with Sichuan Province in the fields of economy, trade, innovation, technology and tourism. Italy and Italian companies highly value China-Italian interaction and support the principles of BRI, and hopes to work with China for further institutionalization of China-Italian BRI cooperation.

Italian Deputy Prime Minister Di Maio believes that the joint efforts of Italy and China in promoting the infrastructure network project linking Asia, Europe and Africa will further strengthen the strategic partnership between Italy and China. Such efforts will allow Italy to truly become China's new strategic partner in Europe. Italy and China also stand together to defend free trade as well as eliminating trade barriers.

Di Maio expressed strong support for China’s expansion in investments in Italian ports as well as investments in infrastructure, energy technology and in other fields. He pointed out that strengthening bilateral cooperation between Italy and China has an immense strategic value and significance. In this regards, Italy aims to work with China in third countries in order to improve the living environment of local people and boost the internationalization of Italian enterprises.

In the recent Task Force China initiative, launched by Italian Ministry of Economy and Finance, Italy put strong emphasis on cooperation with China in Africa as a crucially important step towards reducing poverty in Africa while reducing migratory flows to Europe. With the Task Force China, which is a work mechanism of cooperation and dialogue between government, businesses and civil society organizations, Italy wants to develop a practical national strategy to strengthen economic and commercial ties with China.

Italy has been a strong supporter of the BRI and both countries have without doubt deep historical and geographical advantages in carrying out the Belt and Road cooperation. Italian enterprises are the first beneficiaries of China’s opening up and reform. Last year, trades between Italy and China amounted to around $49.6 billion, according to statistics published by the Chinese Foreign Ministry (up 15.1% yoy). Italian exports to China are meaningfully increasing (+22.2%), with a much more positive trend compared to imports. Italy will further work in reforming its current economic system in order to make the country more attractive to Chinese investors.

China-Italian cooperation along the Belt and Road is also crucially significant for Italy to seize the opportunities brought by China. If a Memorandum of Understanding on BRI would be signed between the two countries by the end this year, the bilateral relations will enter a new era for enhanced strategic cooperation. Most importantly the two countries will reaffirm their commitment in promoting globalization and in enhancing China-Italian dialogue in important fields, such as green technology, economy as well as cooperation in third countries.

The author is a graduate in China Studies and International Relations at Peking University and the London School of Economics. Currently, he is working in the fields of development and public policy.