The Department of Foreign Capital and Overseas Investment of the National Development and Reform Commission and the Department of Global Affairs of the Italian Ministry of Foreign Affairs and International Cooperation convened the Sixth Working Meeting on China-Italy Third-Party Market Cooperation online. The two sides reached agreement on The Second Round of Key Project List of Third-Party Market Cooperation, including 14 projects in sectors such as petroleum, chemical, finance and etc. Since the ratification of the Memorandum of Understanding on the Development of Third-Party Market Cooperation in September of 2018 between the National Development and Reform Commission and the Italian Ministry of Economic Development, the governments, companies and financial institutions of both countries have overcome myriad challenges brought by the COVID-19 pandemic, and have worked proactively to facilitate the implementation of the key projects which are outstanding examples and important bilateral cooperation outputs of the cooperation of Belt and Road.
Being market-oriented and based on the development of economic, social and environmental sustainability, the development of China-Italy third-party market cooperation, takes companies as main participants , complies with laws and regulations of host countries, conforms to the development priorities of national strategies, facilitates mutually beneficial cooperation, consultation, market rules and level playing fields. In terms of the comparative advantages of both sides, Italian companies excel at advanced manufacturing, environment protection, engineering, clothing manufacturing, while Chinese companies have rich experience in infrastructure construction, energy development, equipment manufacturing, the Internet industry and etc. The Chinese and Italian companies, equipped with their respective advantages and strong complementarities, have great potential for furthering the development of the third-party market cooperation. The National Development and Reform Commission and the Italian Ministry of Foreign Affairs and International Cooperation will work closely to build up platforms and create favorable conditions for companies of both countries to deepen the cooperation.