China-Italy Action Plan
On July 28, 2024, marking the 20th anniversary of the China-Italy Global Strategic Partnership, a meeting was held in Beijing between Chinese Premier Li Qiang and Italian Prime Minister Giorgia Meloni.
During the meeting, the two sides issued a 2024-2027 action plan to strengthen their comprehensive strategic partnership, outlining six priority sectors: trade and investment, finance, scientific and technological innovation and education, green and sustainable development, medical and health, and cultural relations and people-to-people exchanges.
Italy and China agreed to intensify and rebalance trade, explore the potential of bilateral trade, and continue to incentivize investment flows in both directions in a transparent and equal context. They also emphasized the need to further strengthen the role of the Joint Economic Commission, which last met in Verona in April, to foster business cooperation and dialogue on respective economic policies. Both parties agreed to enhance the innovative and complementary role of the Italy-China Business Forum, which aims to provide a platform to promote exchanges between governments and businesses and to advance bilateral economic and commercial development.
Both parties recognized the importance of a balanced and mutually beneficial bilateral trade relationship. They intend to ensure a level playing field for their companies and reaffirm their commitment to WTO rules and market principles, advocating for free trade, fair competition, openness, and cooperation, while opposing protectionism and unilateralism.
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