Italian cruise operators have been increasing their investment in the Chinese market even as many key players have withdrawn after the sector's business shrank for the first time in 2018. An analyst said that China and Italy are expected to deepen cooperation in the industry as Italy is set to join the China-proposed Belt and Road Initiative (BRI).

 

Along the Maritime Silk Road, Costa Venezia, Italian cruise operator Costa Cruise's first ship specifically built for the China market, is scheduled to arrive in Shanghai for the first time on May 18. Its sister ship is expected to arrive in China in 2020.

 

Mario Zanetti, president of Costa Group Asia, told the Global Times that Costa Cruises has always been confident in the potential of China's cruise market, although players like Skysea Cruise Line are leaving the market.

 

Both passengers and ships declined in the China cruise market in 2018, and some foreign operators have left the market, according to the Annual Report on China's Cruise Industry 2018.

 

The increasing investment further expresses "the determination of Costa Cruises in this market and the commitment to continuously invest in it," Zanetti said.

 

During Chinese President Xi Jinping's state visit to Italy, which will start on Thursday, the two sides are likely to sign a memorandum of understanding on BRI cooperation, the Xinhua News Agency reported on Wednesday.

 

Italian Prime Minister Giuseppe Conte said Tuesday that closer cooperation with China within the framework of the BRI is in line with Italy's national interests, according to the report.

 

A consensus to promote cooperation in tourism was reached by China and Italy in January, Chinanews.com reported on Monday. 

 

Gian Marco Centinaio, the Italian minister of agricultural, food and forestry policies, said in the report that the two will strengthen cooperation in tourism industry. The Costa Venezia will be a calling card for Italy in China and Asia.

 

As a branch of tourism, the cruise industry will have great opportunities as both sides decided to strengthen cooperation in the field, said Cheng Juehao, deputy chief of the Shanghai International Shipping Institute's Cruise Economy Research Center. "Not just more Italian cruises are expected to call at Chinese ports in the future ... deeper cooperation is also going on in shipbuilding and cruise ship operations," Cheng said.

 

Source:Global Times

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