Experts say Italy to benefit from closer China-EU ties

As leaders from the European Union (EU) and China reached broad consensus on bilateral ties and cooperation at their virtual meeting on Monday, experts have said that Italy will benefit from closer ties between Europe and China.

Chinese President Xi Jinping had a video conference with President of the European Council Charles Michel and President of the European Commission Ursula von der Leyen Monday. And Chinese Premier Li Keqiang co-hosted the 22nd leaders' meeting together with the two presidents from the EU side.

This has been the first formal meeting between Chinese leaders and the new EU leadership after its inauguration last year, and the highest-level bilateral meeting since the coronavirus outbreak.

"Italy will benefit from closer and more open ties between Europe and China," Paul Anderson, senior policy analyst for Asia and the Middle East with investment banker Hildebrandt and Ferrar in Milan, told Xinhua.

"At the end of the day, stronger trade ties and (other issues) discussed are all to Italy's benefit," Anderson said. "These are especially important as Europe works to restart economic growth after the weakening of the coronavirus pandemic."

Last year, Italy became the first Group of Seven member country to sign with China a memorandum of understanding to jointly advance the construction of the China-proposed Belt and Road Initiative.

Ties between Europe and China are strengthened and mature, which will help Italy both directly and indirectly, said Romeo Orlandi, vice president of Osservatorio Asia, a think tank specializing in research and training in Asian countries.

"The coronavirus crisis stressed relations between Europe and China, but it did not break them," said Orlandi, also an expert on Economics of the Far East at the University of Bologna.

"As we emerge from the crisis we will see more trade between Italy and China and we will also see a more robust European Union," he said, adding that "Both are positive for Italy."

(CGTN)