The agreement was signed following Salvini`s objections and is likely to lead to new Chinese investment and stronger trade between the two countries. And it will not only be a general memorandum of understanding between China and Italy. There will be several covering different sectors. A total of 30 contracts are concluded, for a total of at least 7 billion euros in new business. For example, it is reported that Snam will sign a Memorandum of Understanding with the Chinese Silk Road Fund for International Investment Cooperation, which could also include Italian state lender Cassa Depositi e Prestiti SpA. “I am not in favour of the tolerance of metal quotas unless it is part of a broader agreement,” Calenda said in a telephone interview. “It would benefit the EU and the US.” 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. But the meat seems to be coming. Bloomberg recently reported that a number of major Italian companies have been involved in the development of this agreement, from banks and energy to football clubs. Football clubs may not be strategic areas, but energy and banks certainly are. And Bloomberg has dropped big names: pipeline operator Snam SpA, engineering firm Ansaldo Energia SpA and major banks such as Intesa San Paolo and Unicredit. Italy is far from the only one in Europe. The Italian news agency ANSA reported that Luxembourg was also in advanced talks with China for the signing of a similar agreement. And this agreement would make Italy not the first European country, but the 17th European country to join the BIS. There is broad consensus on the direction Poland should take. 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. BIS is the largest foreign investment a country has made since the Marshall Plan, and it is China`s calling card for the world. An important geopolitical strategic step, central to China`s foreign policy, which seems increasingly imperialist. Unless it is adapted to the 21st century, because a war between the nuclear powers makes no sense. This is not a military war, but an economic war. And perhaps the strongest victory. Italy supports the removal of metal import quotas from the United States in order to avoid a transatlantic trade war only as part of a broader agreement involving other sectors, outgoing Economy Minister Carlo Calenda said. “Instead of arguing about metals, we should take this opportunity to negotiate with the United States an agreement acceptable to public opinion on tariffs and non-tariff barriers, and eliminate all controversial chapters of the Transatlantic Trade and Investment Partnership,” Calenda said, including the automotive, pharmacy and textile sectors. But Italy`s biggest mistake was that it did it alone, without consulting other EU members. Germany and France are naturally angry. Italy, with its Eurosceptic nationalist government (Deputy Prime Minister Di Maio of the Starry Movement, is a left-wing populist, Deputy Prime Minister Salvini, leader of the League, is a right-wing populist leader) has already isolated itself from Brussels and found himself in many