一带一路: vademecum for Italian companies

Abstract

“At present, China's relations with Eurasian countries face a golden opportunity of development. We hope to work with these countries to strengthen trust, friendship and cooperation, and promote common development and prosperity so as to bring benefits to our people. […] - We need to vigorously enhance practical cooperation and be good partners of win-win cooperation. […] - We need to expand regional cooperation with a more open mind and broader vision and achieve new glories together. […] […] To forge closer economic ties, deepen cooperation and expand development space in the Eurasian region, we should take an innovative approach and jointly build an "economic belt along the Silk Road". First, we need to step up policy communication. […] Second, we need to improve road connectivity. […] Third, we need to promote unimpeded trade. […] Fourth, we need to enhance monetary circulation. […] Fifth, we need to increase understanding between our people. […] “ “Promote Friendship Between Our People and Work Together to Build a Bright Future” is the name with which the Xi Jinping’s speech will go down in history, and probably with this name will be represented the turning point of the future economic, social and political development in the Eurasian continent. It was September 7th 2013 when the President of the People’s Republic of China, at Nazarbayev University of Astana (Kazakhstan), spoke these words and officially informed the World about his idea of building a “Silk Road Economic Belt” with Eurasian countries. The OBOR (One Belt One Road) initiative is an immensely ambitious development campaign through which China wants to boost trade and stimulate economic growth across the Eurasian continent. It hopes to do so by building massive amounts of infrastructures connecting it to countries around the globe. By some estimates, China plans to pump $150bn into such projects each year. The OBOR project is now arguably the most important component of China’s economic diplomacy and its international trade and investment relations. It will have, indeed, not only a huge impact on other Countries’ infrastructural development, but will also enhance their commercial, political and diplomatic relations with China. The large amount of opportunities promoted by OBOR towards European countries, especially Italy, represents the main subject of this thesis. They will be identified, collected and analysed in order to create a useful manual for those operators willing to and interested in understand them, or possibly capitalize on them. Two important parts of this investment program could positively affect the Italian economy and companies: the new railway networks connecting China to Europe and the strengthening of Mediterranean ports. The real challenge for Italy is played on the seas: a joint-project among the 5 major northern Adriatic ports already exists, and is co-financed by the Italian government and the Silk Road Found. The Italian ports involved in the project are Venice, Trieste and Ravenna; they will attract the huge Chinese cargo ships that reach the Mediterranean through the Suez Canal. In addition to the logistics and port sectors, Italian companies will have the great opportunity to increase their trade with China. Higher the flow of Chinese commercial ships in the Mediterranean Sea, higher the trade flow between China and Italy. For a country like Italy, strongly exposed to international competition, such a commercial opening to China represents an additional chance of development, both for the economy and society. Besides entrepreneurship and commercial strategy, an adequate knowledge of the OBOR project, as well as the Chinese strategic mission and vision is required in order to take advantage of it. Through the study of this thesis, the operators will be able to obtain the fundamental tools for a successful journey along the New Silk Road.