In 2023, India, the United States, the United Arab Emirates, Saudi Arabia, France, Germany, Italy and the European Union agreed to establish the India–Middle East Economic Corridor (IMEC) to enhance global trade and counter China's Belt and Road Initiative. The IMEC aims to connect a combined GDP of US$47 trillion with a comprehensive infrastructure network and focuses on high-efficiency trade routes, renewable energy, digital infrastructure and improved international communication networks. But to succeed, participating countries must align their implementation strategy to overcome geopolitical and logistical challenges. During the G20 Summit in late 2023, an agreement was signed between India, the United States, the United Arab Emirates, Saudi Arabia, France, Germany, Italy and the European Union to establish the India–Middle East Economic Corridor (IMEC). This initiative is a strategic response to China’s Belt and Road Initiative (BRI) and aims to position India as a pivotal player in global trade.
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- Originally Published East Asia Forum Published on Nov 09, 2024 1
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