Italian Prime Minister Giorgia Meloni pledged on Sunday to “relaunch” cooperation with China during her inaugural official visit to Beijing since taking office.
This visit marks a significant step as Italy aims to enhance trade relations with China after exiting President Xi Jinping’s Belt and Road Initiative last year.
During her meeting with Chinese Premier Li Qiang, Meloni emphasized the desire to start “a new phase” in bilateral cooperation, underlining the goal to explore innovative forms of partnership.
The newly signed industrial cooperation memorandum between Italy and China focuses on strategic sectors like electric mobility and renewable energy.
Meloni sees this partnership as a potential catalyst for Italy’s sluggish economic growth.
During her visit, she also engaged with Chinese President Xi Jinping and top legislator Zhao Leji.
Meloni’s itinerary included attending an Italy-China business forum, which saw participation from major Italian companies such as Pirelli, ENI, Leonardo, and luxury fashion houses like Dolce & Gabbana.
This forum highlighted the mutual interest in balancing commercial exchanges, reflecting Meloni’s intention to address concerns over Chinese overcapacity and China’s economic support for Russia in its conflict with Ukraine.
At the forum, Li Qiang expressed a desire for a “win-win mentality,” aiming to enhance trade and investment cooperation, as per a video shared by Meloni’s office.
The visit also served to “clarify some misunderstandings” regarding Italy’s exit from the Belt and Road Initiative, a move influenced by U.S. pressure and concerns over China’s economic influence.
Italy’s trade with China reached €66.8 billion ($80 billion) in 2023, with China being Italy’s largest non-EU trading partner after the United States.
The Italian government is also in talks with Chinese automakers, seeking to attract another major manufacturer alongside Stellantis.
Despite the cooperative tone, Italy supported the European Commission’s decision to impose provisional tariffs on Chinese electric vehicles, a move met with displeasure from Beijing, which initiated retaliatory investigations into European brandy and pork.
Italy and other G7 members have committed to protecting their industries from perceived unfair Chinese trade practices.