China's President Xi Jinping (left), China's Foreign Minister Wang Yi, Italy’s Labor and Industry Minister and deputy PM Luigi Di Maio and Italy’s Prime Minister Giuseppe Conte attend a signing ceremony at Villa Madama in Rome as part of Xi Jinping's two-day visit to Italy on Saturday. Alberto Pizzoli/ AFP
ROME: Italy on Saturday became the first member of the Group of Seven industrialised powers to endorse China's "Belt and Road" infrastructure project, with Rome brushing off the worries of Western allies as it looks to revive its flagging economy.
The signing ceremony was the highlight of a three-day trip to Italy by Chinese President Xi Jinping, which was designed to boost ties between the two nations at a time when the United States is locked in a trade war with China.
Chinese and Italian firms additionally signed some 10 deals, including in the energy, steel and gas pipeline sectors.
Full details of the contracts was not immediately revealed, but a government source said they could potentially be worth up to 20 billion euros ($22.62 billion). Italian media put the value at around 5 billion euros.
The city is now also seeking to amend laws to allow individuals to be extradited to mainland China, despite grave human rights concerns towards Beijing.
The leaders of China, France, Germany and the EU were set to meet in Paris on Tuesday for “unprecedented” talks on how to improve ties, despite growing jitters over Beijing’s massive investments in Europe.
The US special representative for Afghanistan, Zalmay Khalilzad, will meet with Chinese, Russian and European Union diplomats on Afghanistan on Thursday as he tries to forge a peace deal with the Taliban to bring an end to America’s longest war.
The Fair is orgnised as part of Sharjah’s celebration of its selection as World Book Capital 2019.
The fees for the 10-year residence will be Dhs1,150 for investors operating in general investments or senior employees working for the investor.
Vice President and Prime Minister of the UAE and Ruler of Dubai His Highness Sheikh Mohammed bin Rashid Al Maktoum has asserted that the future industry requires a comprehensive development process for all sectors and areas of government work, starting with a strong base of national talent capable of dealing with the tools and skills of the future, to the development of a new generation of governments based on the outputs of the new industrial revolution.