Italian PM Meloni to Boost Trade with China

Italian Prime Minister Giorgia Meloni is set to embark on her inaugural visit to China from July 26 to 31, with the primary goal of enhancing trade ties between the two nations. This visit comes as Meloni seeks to leverage Chinese investment to invigorate Italy's sluggish economic growth. She is expected to engage in discussions with Chinese President Xi Jinping and Premier Li Qiang, focusing on potential bilateral agreements. A significant aspect of Meloni's trip includes participation in the Italy-China Business Forum in Beijing, where prominent Italian companies such as Pirelli, ENI, and luxury fashion brands like Dolce & Gabbana will be represented. The forum aims to foster collaboration in various sectors, including automotive, as Italy looks to attract additional major automakers to boost national production. This initiative follows Italy's previous involvement in China's Belt and Road Initiative, from which it withdrew last year amid concerns over economic dependency. During her discussions, Meloni is anticipated to address critical issues such as overcapacity in Chinese production and China's support for Russia amid the ongoing conflict in Ukraine. The Italian government is keen on establishing a balanced trade relationship, as current figures indicate that Italy's annual trade with China stands at approximately €73.9 billion, heavily favoring Beijing. The visit underscores Italy's strategic approach to navigating its economic relationship with China while balancing concerns raised by G7 partners regarding fair trade practices and geopolitical tensions.