INTERNATIONAL

Discussions To Promote The Middle East-Europe Economic Corridor Are Held By India And The UAE

For the first time, an Indian team visited the UAE on Friday to have talks on the India-Middle East-Europe Economic Corridor (IMEEC) with the important parties there. A portion of Asia, Europe, and the Middle East are to be integrated via the IMEC trade corridor, which was unveiled in February.

The fact that the visit happened only three months after the agreement was signed shows how much both countries value the IMEEC project. Effective alternative supply lines that save costs and increase efficiency will be made available by the corridor. It said that both parties had decided to keep talking about implementing the agreement as soon as possible.

With the first visit of an Indian inter-ministerial delegation to the United Arab Emirates for the India-UAE Intergovernmental Framework Agreement on IMEEC, the India-Middle East-Europe Corridor (IMEEC) is taking shape. The Indian mission stated on X that “Amb @sunjaysudhir led the discussions with key UAE entities like @DPWorldUAE, @ADPortsGroup, and @CUSTOMSUAE.” The IMEEC will be made up of two distinct corridors: the northern corridor, which connects Europe to the Gulf, and the east corridor, which connects India to the Gulf.

In addition to current marine lines, the corridor will provide a dependable and reasonably priced cross-border ship-to-rail transportation network. In order to achieve a revolutionary integration of Asia, Europe, and the Middle East (West Asia), it aims to promote efficiency, cut prices, protect regional supply chains, increase trade accessibility, enhance economic cooperation, create employment, and minimize greenhouse gas emissions.

The IMEC corridor is still in its early stages and includes several stakeholders in its goal of integrating Asia, Europe, and the Middle East. The statement stated that from May 15 to 17, an Indian delegation visited the UAE for meetings under the terms of the Framework Agreement between India and the UAE regarding cooperation for the development and management of the India-Middle East-Europe Economic Corridor (IMEEC).

On February 13, in Abu Dhabi, Prime Minister Narendra Modi and UAE President Mohammed bin Zayed Al Nahyan signed the Framework Agreement between India and the UAE. In order to achieve this goal, the agreement calls for cooperation in the development of the IMEEC as well as the investigation of possible joint investment and technological cooperation.

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