Italian Chinese Agreement

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TRIESTE AND GENOA PORTS China Communications Construction Company (CCCC) has signed two cooperation agreements with the authorities of the port of Trieste and with the Commissioner who is overseeing the reconstruction of the Genoa Bridge, which collapsed last year. Rumours are circulating in Italy, when one wonders what exactly this “memorandum of Understanding” implies. The Italian government insists that this is just a framework agreement, which means it is not much. Municipalities are generally not binding. Like a meatless skeleton. Updated on 25 March 2019. On 22 March, following President Xi Jinping`s visit, Italy signed a comprehensive economic agreement with China as part of the “New Silk Road”. As an agreement known as the intention, it is a framework agreement that contains a total of 29 separate agreements. Ten are “commercial” and range from Italian energy giant Eni to Ansaldo, a major manufacturer of thermoelectric power plants. And nineteen are “institutional” and cover a wide range of activities, from cultural exchanges to the defence of archaeological sites, through cooperation in public health and within UN organizations such as UNESCO. The sum of the agreements is expected to have a potential value of around 20 billion euros. France, which is trying to increase its market share in China, has announced that it will sell 300 new planes to the Chinese and that it will ingest billions of euros more in other stores, ranging from the export of French chickens to agreements between French and Chinese companies on power grids and shipbuilding.

It is very interesting to note that this agreement between China and Italy is not opposed to the European integration policy. On the contrary, this document mentions the Europe-Asia connectivity strategy. Rome and Beijing are committed to developing synergies between the Belt and Road Initiative and the European Infrastructure Plan. On the other hand, the parties commit, through this agreement, to promote transparency and to implement projects that comply with tendering procedures and therefore comply with European standards. The agreements signed in Rome are amid the question of whether Chinese company Huawei should be allowed to set up vital communication networks, after the United States expressed concerns about Beijing`s ability to help Beijing spy on the West.