Italy has formally communicated to China its decision to withdraw from the Belt and Road Initiative (BRI), according to government sources on Wednesday, putting an end to the lingering uncertainty surrounding Rome's participation in the ambitious project.
Italy in 2019 became the first and so far only major Western nation to join the program, dismissing concerns from the United States that it would enable China to gain control of sensitive technologies and vital infrastructure.
However, when Prime Minister Giorgia Meloni took office last year, she said she wanted to withdraw from the deal, which is modeled on the ancient Silk Road that linked China to the West, saying it was a "serious mistake" and had brought no significant gains to Italy.
Italian Foreign Minister Antonio Tajani said in September that membership "has not produced the results we were hoping for."
The long-expected decision was communicated to Beijing three days ago, according to Italian newspaper Corriere della Sera, without any official statement from either side.
The 2019 accord expires in March 2024 and would have been automatically renewed unless Rome gave at least three months' written warning that it was pulling out.
A government source told Reuters news agency Beijing had been given a letter "in recent days" informing the Chinese government that Italy would not be renewing the pact.
"We have every intention of maintaining excellent relations with China even if we are no longer part of the Belt and Road Initiative," a second government source said.
"Other G-7 nations have closer relations with China than we do, despite the fact they were never in (the BRI)," he added.
A separate source also confirmed to Agence France-Presse (AFP) that Rome had pulled out, without giving details beyond saying it was done in such a way as to "keep channels of political dialogue open."
Rome has been wary of provoking Beijing and risking retaliation against Italian companies.
Meloni told reporters at the G-20 summit in Delhi in September that Italy "would not compromise relations with China."
Italy will assume the presidency of the G-7 in 2024.
