Italy formally withdraws from China's Belt and Road Initiative

Italy signed the pact in 2019 expecting a big boost to exports but hoped-for economic gains have not materialised.

Transcript

00:00 Italy has officially informed Beijing of its decision to withdraw from China's Belt and

00:05 Road Initiative.

00:06 It ends months of speculation over a relationship that has irritated Rome's Western allies.

00:12 It was the only G7 member to have joined the international trade group.

00:17 Italy signed the pact in 2019 expecting a big boost to exports but hope for economic

00:23 gains have not materialized.

00:25 However, Prime Minister Giorgia Maloney emphasized that her government was seeking to maintain

00:29 good relations with China despite the move.

00:32 [WHOOSH]