The Belt and Road Initiative (BRI) is a project involving all countries along the routes and many enterprises will benefit from it, said Paolo Borzatta, a board member of the Italy-based consultancy European House - Ambrosetti, at a sub-forum of the ongoing Boao Forum for Asia (BFA) annual conference on Tuesday.

The BRI is not only an initiative of China or a project of the Chinese government, but also a project of all countries along the route, he said.

In 2019, Italy and China signed a memorandum of understanding (MoU) on bilateral cooperation within the framework of the BRI, making Italy the first Group of Seven (G7) nation to sign such an MoU with China, said Borzatta.

Borzatta said he believes the BRI represents the future of the world. In addition to the connectivity of infrastructure, it is crucial also because it has established a common agreement, especially in the area of digital cooperation, which enables smooth communication and can help avoid misunderstandings.