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The '''India—Near West—Europe Economic Corridor''' (IMEC) is a planned project that aims to improve economic development by strengthening connections and economic cooperation between Asia, the Middle East, and Europe. The corridor is a suggested route starting from India, going through the United Arab Emirates, Saudi Arabia, Israel, and ending in Greece, to link the economies of these regions. | {{Infobox organization | ||
| name = India—Near West—Europe Economic Corridor | |||
| image = File:India-Middle East-Europe Economics Corridor.jpg | |||
| caption = Announcement of India—Near West—Europe Economic Corridor in New Delhi | |||
| map = India Middle East Europe Economic Corridor Map.png | |||
| mcaption = India Middle East Europe Economic Corridor Founder States And Location Map | |||
| abbreviation = IMEC | |||
| formation = {{start date and age|2023|09|09|df=yes}} | |||
| Projected Completion = | |||
| status = | |||
| purpose = Promote economic development and inter-regional connectivity | |||
| headquarters = | |||
| location_country = | |||
| founder = {{Unbulleted list|{{flag|India}}|{{flag|United States}}|{{flag|Saudi Arabia}}|{{flag|United Arab Emirates}}|{{flag|European Union}}|{{flag|France}}|{{flag|Germany}}|{{flag|Italy}}}} | |||
| location = {{Unbulleted list|{{flag|India}}|{{flag|United Arab Emirates}}|{{flag|Saudi Arabia}}|{{flag|Jordan}}|{{flag|Israel}}|{{flag|European Union}}}} | |||
| main_organ = | |||
| affiliations = | |||
| website = | |||
}} | |||
The '''India—Near West—Europe Economic Corridor''' ({{lang|hi|भारत—निकट पश्चिम—यूरोप आर्थिक गलियारा}} ; <b>IMEC</b>) is a planned project that aims to improve economic development by strengthening connections and economic cooperation between Asia, the Middle East, and Europe. The corridor is a suggested route starting from India, going through the United Arab Emirates, Saudi Arabia, Israel, and ending in Greece, to link the economies of these regions. | |||
== MOU signing date and place == | |||
On 09 September 2023, during the 2023 G20 summit held in New Delhi, the governments of India, the United States, the United Arab Emirates, Saudi Arabia, France, Germany, Italy, and the European Union signed a Memorandum of Understanding (MoU) for the '''India-Middle East-Europe Economic Corridor''' (IMEC) project. This MoU aims to bring these countries together to work towards enhancing economic connectivity and integration between Asia, the Middle East, and Europe through this proposed corridor. | |||
== Information == | |||
The IMEC project was launched with the goal of strengthening transportation and communication links between [[Europe]] and [[Asia]] through rail and shipping networks. This initiative is viewed as a response to China's [[Belt and Road project]]. The Memorandum of Understanding signed by the participating countries has only outlined the potential geographical scope of the corridor, which will compete with the existing trade route through the [[Suez Canal]]. | |||