Italy’s international minister defends MOU agreements with China –

Find Hotels in Dubai

Hotel Stars Discount Price per night, from Choose dates

Sofitel Dubai Downtown




View Hotel

Habtoor Palace, LXR Hotels & Resorts




View Hotel

Park Hyatt Dubai




View Hotel

© Reuters. 2019 World Economic Forum (WEF) annual meeting in Davos

ROME (Reuters) – Italian Foreign Minister Enzo Moavero on Thursday defended the commercial accords Italy is poised to sign with China as part of its “Belt and Road” initiative and said they had the backing of President Sergio Mattarella.

“My understanding is that a balance has been found” between the interests of promoting trade and defending national security, Moavero said in answer to questions from a parliamentary panel.

The United States, which fears China’s growing international clout and penetration into strategic areas such as telecommunications, has raised concerns about allies’ participation in the Belt and Road scheme. The European Union is meanwhile wary of Chinese takeovers in critical sectors.

Italian Prime Minister Giuseppe Conte has said he may sign a series of Memorandums of Understanding on Belt and Road infrastructure investments when Chinese President Xi Jinping visits Rome and Palermo later this month.

That would make Italy the first Group of Seven major industrialized nation to sign up for the initiative, which aims to create an infrastructure network like the old Silk Road linking China with Asia, the Middle East, Europe and Africa.

A number of smaller European Union states have already signed MOUs with China.

“We have to be concrete and pragmatic, Italy is a major manufacturing and exporting country for whom it’s very important to have access to such a large market as China,” Moavero said.

The minister, an academic who is not a member of either of the ruling parties — the right-wing League and the populist 5-Star Movement — stressed that the MOUs were framework agreements and not binding international treaties.

He added that government is considering strengthening its so-called “golden powers,” which are tools that allow the state to safeguard strategic assets from foreign ownership.

Disclaimer: Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. All CFDs (stocks, indexes, futures) and Forex prices are not provided by exchanges but rather by market makers, and so prices may not be accurate and may differ from the actual market price, meaning prices are indicative and not appropriate for trading purposes. Therefore Fusion Media doesn`t bear any responsibility for any trading losses you might incur as a result of using this data.

Fusion Media or anyone involved with Fusion Media will not accept any liability for loss or damage as a result of reliance on the information including data, quotes, charts and buy/sell signals contained within this website. Please be fully informed regarding the risks and costs associated with trading the financial markets, it is one of the riskiest investment forms possible.

Source link

Be the first to comment

Leave a Reply

Your email address will not be published.