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U.S. Markets

Italy looking to sign non-binding Belt and Road MOU with China: Geraci

ROME (Reuters) - Italy is negotiating to sign a memorandum of understanding to become a part of China’s Belt and Road Initiative (BRI) when Chinese President Xi Jinping visits later this month, a government official said on Wednesday.

Junior industry minister Michele Geraci said that if Italy did sign a deal it would be non-binding and just “an initial framework”. He also dismissed reports that the United States is annoyed at the prospect of Italy joining the BRI.

Geraci told a news conference that Xi was due to visit Italy on March 22 and 23.

Reporting by Giuseppe Fonte; Editing by Crispian Balmer

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