India-Middle East-Europe Economic Corridor

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India-Middle East-Europe Economic Corridor
India-Middle East-Europe Economic Corridor and related projects
AbbreviationIMEEC
Formation2023; 3 years ago (2023)
FounderIndia
United States
Saudi Arabia
United Arab Emirates
European Union
France
Germany
Italy
PurposePromote economic development and inter-regional connectivity
Location
  • India, UAE, Saudi Arabia, Israel, Greece
Website{{URL|example.com|optional display text}}

The India-Middle East-Europe Economic Corridor (IMEC) is a planned economic corridor that aims to bolster economic development by fostering connectivity and economic integration between Asia, the Persian Gulf and Europe.[1][2] The corridor is proposed from India to Europe through the United Arab Emirates, Saudi Arabia, Jordan, Israel and Greece.[3]

Background and timeline

On 10 September 2023 the Memorandum of Understanding (MoU) was unveiled during the 2023 G20 New Delhi summit by the governments of India, the United States, the United Arab Emirates, Saudi Arabia, France, Germany, Italy, and the EU.[4][5][6]

Reactions

Turkish president Recep Tayyip Erdogan has criticized the project for bypassing Turkey, and is instead backing the "Iraq Development Road Project", which would connect the Persian Gulf with Europe through Iraq and Turkey.[7]

References

  1. ↑ "World leaders launch India-Middle East-Europe Economic Corridor seen as counter to China's BRI". Financialexpress. Retrieved 10 September 2023.
  2. ↑ "New economic corridor to connect Asia, Europe & US". The New Indian Express. Retrieved 10 September 2023.
  3. ↑ Singh, Ram. "A corridor of immense promise". BusinessLine. Retrieved 16 September 2023.
  4. ↑ Ellis-Petersen, Hannah. "G20: EU and US back trade corridor linking Europe, Middle East and India". The Guardian. ISSN 0261-3077. Retrieved 10 September 2023.
  5. ↑ "7 countries, EU sign memorandum of understanding for trade corridor linking Europe, Middle East and India". www.aa.com.tr. Retrieved 10 September 2023.
  6. ↑ "'Game-changer': India-Middle East economic corridor unveiled at G20". www.aljazeera.com. Retrieved 10 September 2023.
  7. ↑ Soylu, Ragip. "Turkey's Erdogan opposes India-Middle East transport project". Middle East Eye. Retrieved 17 September 2023.
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