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Italy's Meloni to visit China this week with trade, investment agenda
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Italy's Meloni to visit China this week with trade, investment agenda
Jul 24, 2024 10:07 AM

ROME, July 24 (Reuters) - Italian Prime Minister Giorgia

Meloni will visit China from July 26-31 on her first trip there

since taking office, aiming to improve trade with China, a

person involved in the planning told Reuters.

Meloni, who sees Chinese investment as a way to spur Italy's

anaemic economic growth, is expected to meet Chinese President

Xi Jinping and Premier Li Qiang.

Italian tyre-maker Pirelli, energy group ENI, defence group

Leonardo, wine producers and several Italian luxury fashion

groups including Dolce & Gabbana are among the companies invited

to an Italy-China Business Forum to be held in Beijing on Sunday

and Monday during Meloni's visit.

In 2019, Italy became the only G7 country to join China's

trade and infrastructure project known as the Belt and Road

Initiative (BRI), but withdrew from it last year under U.S.

pressure over concerns about Beijing's economic reach.

Meloni's government said the deal had brought no benefits to

Italy, whose 73.9 billion euro ($80.13 billion) annual trade

with China, according to latest data, is heavily tilted towards

Beijing.

Bilateral trade and industrial agreements are expected to be

signed during Meloni's trip, another source close to the

planning said, without providing details.

One of the panels of the business forum will be dedicated to

the automotive sector. The Italian government is holding talks

with Chinese automakers as part of efforts to attract another

major automaker to the country in addition to Stellantis ( STLA )

and increase national car production.

China's industry ministry said earlier this month that it

was willing to promote practical cooperation with Italy in areas

such as automobiles, ships and small- and medium-sized

enterprises.

During her visit, Meloni is also expected to raise the

question of overcapacity in Chinese production and China's

support for Russia in Moscow's war with Ukraine.

At a meeting hosted by Italy in Borgo Egnazia last month,

the G7 members - the United States, Italy, Britain, France,

Germany, Japan and Canada - said they were not trying to harm

China or thwart its economic development but would continue to

take actions to protect their businesses from unfair practices.

($1 = 0.9223 euros)

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