Italy has signed a non-binding protocol with China to join in in Beijing’s new Silk Road of transport and trade associations extending from Asia to Europe.
Italy has inked a non-binding protocol with China to join in in Beijing’s new Silk Road of transport and trade associations extending from Asia to Europe.
With this move, Italy has emerged as the first -G7 nation to sign up for the project.
Italian Prime Minister Giuseppe Conte and Chinese President Xi Jinping both joined a ceremony in Rome on Saturday (23rd of March) for the signing of 29 Memoranda of Understanding.
The worth of the deal is reportedly a whopping $5.6 to 8 billion.
The Italian Prime Minister Mr Conte who is planning to visit China next month will also sign a few more deals.
The Silk Road was an ancient network of trade routes that connected the East and West. It was central to cultural interaction between the regions for many centuries.
The Silk Road primarily refers to the terrestrial routes connecting East Asia and Southeast Asia with East Africa, West Asia and Southern Europe.
