Italy intends to sign a memorandum of understanding for becoming a part of China’s Belt and Road Initiative (BRI) by the end of this month, a step that has drawn a critical reaction from the United States, as per the reports of Financial Times on Tuesday.
The newspapers reported citing Michele Geraci—the Undersecretary in the Economic Development Ministry of Italy that the negotiation is not over yet, however it is possible that it would reach conclusion in time for the visit of the Chinese president—Xi Jinping.
The United States said that the project was unlikely to assist Italy economically and could significantly affect on the international image of the country, as per the paper reports.
The report also cited Garret Marquis—the spokesperson of the White House National Security Council saying that they view BRI as a made by China, for China initiative.
The Belt and Road initiative, guided by the President Xi, is targeted at linking China by sea and land with the Southeast and central Asia, the Europe, the Middle East and Africa, via an infrastructure network on the lines of the old Silk Road.
Besides, boosting trade and investment, Xi aims to promote exchanges in areas like culture, technology, education and science.
Previously, China introduced cross-border partnerships with many international, non-governmental and civic organisations for creating three green economic belts in the nations involved in the Belt and Road Initiative (BRI) which includes Pakistan.
The belts are anticipated to begin in northwest China and link nations in the central and west Asia, like Iran, Kazakhstan, Turkey, and Pakistan.