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Italy signs Belt and Road Initiative (BRI)
March 26 , 2019
2073 days
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- Italy endorsed China’s ambitious “Belt and Road” infrastructure plan, becoming the first major Western power to back the initiative.
- Italy is the thirteenth European Union country but the first G7 country to join China’s Belt Road Initiative.
- The agreement is seen as a trade-off wherein Italy needs investment and China has those investment to provide.
Belt and Road Initiative
- BRI is a development strategy adopted by the Chinese government involving infrastructure development and investments in 152 countries and international organizations in Europe, Asia, Middle East, Latin America and Africa.
- It is also known as the One Belt One Road (OBOR) or the Silk Road Economic Belt and the 21st-century Maritime Silk Road.
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