Italy lining up Chinese deals despite deputy premier’s national security warnings
- Agreements could be signed alongside memorandum of understanding on ‘Belt and Road Initiative’ when Xi Jinping visits Rome
- But Matteo Salvini warns against influence of foreign powers and Huawei taking a role in Italy’s 5G telecoms
Italy’s government is scrambling to firm up accords from banking and energy to soccer clubs for next week’s visit by Chinese President Xi Jinping, despite pressure from the rightist League of Matteo Salvini which is urging caution in the name of national security.
Many of Italy’s business players are lining up for deals in parallel with the planned signing of a memorandum of understanding that will give Rome a role in the massive “Belt and Road Initiative”, China’s trans-continental infrastructure project, according to people familiar with the matter.
Companies involved include gas pipeline operator Snam, engineering company Ansaldo Energia and leading banks, those people said.
Deputy premier and economic development minister Luigi Di Maio is leading efforts to ready some 20 agreements under negotiation with the objective of signing them during the visit by Xi, expected on March 21 to 23.
The drive by Di Maio, of the anti-establishment Five Star Movement, has triggered new tension with fellow deputy premier Salvini, who warned against the risk of “foreign powers” influencing Italy’s economy and politics and about any involvement of Chinese company Huawei in 5G telecoms.