Opening new ways to connecting Asia with Mediterranean Sea

UAE TO SUPPORT LANDMARK INDIA-MIDDLE EAST-EUROPE ECONOMIC CORRIDOR PROJECTS

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UAE TO SUPPORT LANDMARK INDIA-MIDDLE EAST-EUROPE ECONOMIC CORRIDOR PROJECTS

The United Arab Emirates (UAE) is joining forces with the Governments of the Kingdom of Saudi Arabia, the Member States of the European Union, the Republic of India, and the United States to collaborate on the newly proposed India-Middle East-Europe Economic Corridor (IMEC). This significant development was officially announced in the presence of President His Highness Sheikh Mohamed bin Zayed Al Nahyan during the sidelines of the 18th G20 Heads of State and Government Summit held in New Delhi, India.

The primary objective behind establishing this corridor is to enhance connectivity and foster integration among the participating nations. The IMEC will consist of two distinct pathways, namely, the east corridor connecting India to the Arabian Gulf and the northern corridor connecting the Arabian Gulf to Europe. The overarching goal is to establish cross-border ship-to-rail transit corridors that will substantially reduce shipping costs within the network, thereby promoting trade in goods and services among the UAE, Saudi Arabia, India, and Europe.

The collaborative partners are committed to engaging with the private sector to create a railway line connecting India to Europe while utilizing existing ports in the UAE, Saudi Arabia, and Jordan. This new railway system is designed to complement existing maritime and road transport routes. Simultaneously, investments are proposed for enhancing port infrastructure along these routes to accommodate the anticipated surge in trade volume.

Furthermore, the participants plan to enable the installation of cables for electricity and digital connectivity, as well as pipelines for the export of clean hydrogen, along the railway route. According to the Memorandum of Understanding (MOU) that was executed, the IMEC is expected to “strengthen regional supply chains, enhance trade accessibility, streamline trade facilitation, and promote an increased focus on environmental, social, and governance considerations.” The next phase of this initiative will involve a collaborative effort among the participating nations to further advance the design and implementation of this novel transit network.

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