Italy approved on Saturday China's Belt and Road (BRI) industrial initiative — this move makes the European country the first member of the Group of Seven (G7) powerful economies to join the Chinese project.
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In addition to the 'Belt and Road' deal, Chinese and Italian businesses concluded around ten other trade agreements — these include projects in the steel, energy and gas industries.
He also expressed hope that the BRI, also known as the 21st Century Maritime Silk Road, would be a "two-way road," and it would allow exchanging not only of goods but of ideas. His Chinese counterpart, Xi Jinping, who is currently on an official three-day visit to Italy, for his part, said that he and Mattarella had reached a "broad agreement."
In 2013, Xi unveiled China's planned Belt and Road project; its aim is to accelerate economic advancement and strengthen relations between Eurasian countries.
