On Wednesday, Bloomberg reported that the Italian government has formally announced it will withdraw from China’s Belt and Road Initiative, because it,  “has not produced the desired effects” according to the nation’s deputy prime minister and foreign minister, Antonio Tajani.

Tajani, at an event held by the Italian news agency Adnkronos on Wednesday, said, that the Chinese infrastructure and investment alliance is no longer “a priority” for Italy, adding that other nations “have had better results” after not participating in the pact.

The idea of withdrawal had been floated several times over the past few months by several top Italian officials, including Prime Minister Giorgia Meloni herself.

Italy was the first Western nation to sign up for the pact when it did so in 2019. Under the pact, the trade barriers between China and Italy were lowered, as Beijing pledged new investment in Italian rail and port infrastructure.

Rome’s announcement came, according to the outlet amid a time when many nations in the West, Italy included, are struggling with the issue of striking a balance between engaging with China on trade and investment, while also supporting the United States, which has increasingly seen its relationship with China turn adversarial.

China intended the BRI global initiative as a tool to enhance its trade ties globally, and expand the trade influence of the world’s second-largest economy. So far, the initiative has attracted roughly $1 trillion in investment since its launch in 2013.

Earlier in the year, Meloni said in an interview with Fox News that the participation by Italy in the Belt and Road was a “paradox,” since it was the only G7 nation which joined in the pact with China. She said at the time that Italy would make a final decision on whether to renew its involvement in the pact by December.