India Middle East Europe Economic Corridor:
The first inter-ministerial delegation from India held meetings from May 15-17 under the Intergovernmental Framework Agreement between the two countries concerning cooperation for the empowerment and operation of the India-Middle East-Europe Economic Corridor .
- The visit, which took place within three months of signing the Agreement, reflects the importance both governments attach to the IMEC project.
- The India-Middle East-Europe Economic Corridor (IMEC) was announced in September 2023 following a meeting in New Delhi between the leaders of India, the US, the United Arab Emirates (UAE), Saudi Arabia, Italy, France, Germany, and the European Commission on the sidelines of the G20 Summit.
- The IMEEC will comprise two separate corridors, the east corridor connecting India to the Gulf and the northern corridor connecting the Gulf to Europe.
- The corridor will provide a reliable and cost-effective cross-border ship-to-rail transit network to supplement existing maritime routes.
- It intends to increase efficiency, reduce costs, secure regional supply chains, increase trade accessibility, enhance economic cooperation, generate jobs and lower greenhouse gas emissions, resulting in a transformative integration of Asia, Europe and the Middle East (West Asia).
