Italy and China signed a three-year economic cooperation agreement on Sunday, Italian Prime Minister Giorgia Meloni said after meeting with Chinese Premier Li Qiang.
During an official visit to Beijing, Meroni said he wanted to use the document to explore new opportunities for cooperation with China, but did not disclose what exactly these would entail.
Meloni also said he wanted to make trade relations with China “fairer,” Italian news agency ANSA reported.
Italy’s trade deficit with China widened to more than 40 billion euros ($43 billion) last year.
She also criticised the investment imbalance at an economic forum in Beijing on Sunday.
“Chinese investment in Italy accounts for about a third of Italian investment in China,” she said, adding that she hoped the gap would narrow.
Meloni arrived in the Chinese capital on Saturday and is due to meet Chinese leader Xi Jinping on Monday.
Relations between Italy and China have recently deteriorated over disagreements after Foreign Minister Meloni told China that Italy would withdraw from China’s major Belt and Road infrastructure project, which aims to boost economic ties with participating countries.
Italy was the only country out of the seven major advanced democracies to join the geopolitical project in 2019, due to a decision made by the previous government in Rome.
Italy said it was withdrawing because its economic expectations of membership had not been met.
Italian Prime Minister Giorgia Meloni attends a meeting with Chinese Premier Li Qiang at the Great Hall of the People in Beijing. -/Italian Government/dpa
Chinese Premier Li Qiang (right) welcomes Italian Prime Minister Giorgia Meloni at the Great Hall of the People in Beijing. -/Italian Government/dpa
