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India-Middle East-Europe Economic Corridor

India-Middle East-Europe Economic Corridor:

An Indian delegation recently paid a visit to the UAE for the first time to hold discussions with the key entities there on the India-Middle East-Europe Economic Corridor (IMEEC).

  • India-Middle East-Europe Economic Corridor (IMEEC) was announced on the sidelines of the G20 meeting in New Delhi when a memorandum of understanding was signed between the European Union and seven countries, namely India, the US, Saudi Arabia, the United Arab Emirates (UAE), France, Germany, and Italy.
  • 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.
  • 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 include a shipping route connecting Mumbai and Mundra (Gujarat) with the UAE, and a rail network connecting the UAE, Saudi Arabia, and Jordan with the Israeli port of Haifa to reach the shores of the Mediterranean Sea.
  • Haifa will then be connected by sea to the port of Piraeus in Greece to eventually be connected to Europe.
  • Beyond the transport infrastructure, undersea cables would facilitate the exchange of data, while long-distance hydrogen pipelines would boost the participants’ climate and decarbonisation goals.