(MT Newswires) -- The Italian Parliament will evaluate and "decide whether or not to renew" the country's participation in China's Belt and Road initiative, Deputy Prime Minister and Foreign Minister Antonio Tajani said in a speech at the European House - Ambrosetti forum in Cernobbio.
The initiative to create a modern version of the Silk Road didn't yield results that the country was expecting, Tajani said on Saturday. "Italian exports towards China in 2022 amounted to 16.5 billion euros ($17.8 billion)," while France's exports totaled 23 billion euros and Germany's exports were 107 billion euros in 2022.
The agreement with China was sealed in March 2019 via a memorandum of understanding by Giuseppe Conte who was serving as prime minister at the time. The agreement is due for renewal by the end of the year.
Tajani also said Italy wants to "have a solid relationship" with China even though, he said, the country is seen as "a partner but also as a competitor, a systemic rival."
"We want to continue working intensely with China, but we also need to conduct an analysis on exports," Tajani said at the annual forum.
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