Our Bureau
New Delhi
Israel has expressed a strong interest in collaborating with India on the India-Middle East-Europe Economic Corridor (IMEC), a significant initiative aimed at enhancing connectivity among Asia, the Middle East, and Europe. Israeli Minister of Economy and Industry Nir M Barkat announced that a dedicated team is already working on the project, which was initially launched during the G20 Summit in New Delhi in September 2023.
The IMEC is designed to create a comprehensive network of roads, railroads, and shipping routes, facilitating trade and economic integration across the region. Barkat emphasized the importance of this initiative, stating, “We are more than happy to collaborate on IMEC which is actually connecting India and Asia to Europe via Saudi Arabia, Jordan, and Israel”. This collaboration is seen as a strategic move to bolster Israel’s economic ties with India and its neighbors.
The corridor aims to provide an alternative trade route to the Suez Canal and counterbalance China’s Belt and Road Initiative. It includes plans for a 300-kilometer rail track linking Amman to Haifa, which will enhance trade flows between India and Israel. The IMEC has garnered support from various nations, including the United States and European partners, highlighting its potential to reshape regional trade dynamics.
As Israel prepares its contributions to the IMEC, the project faces challenges due to ongoing geopolitical tensions in the region. Nevertheless, the commitment from both Israel and India reflects a shared vision for economic growth and connectivity that could redefine trade routes for years to come. With significant investments already pledged by Saudi Arabia and other countries involved in the initiative, the IMEC stands poised to create vast opportunities for collaboration among participating nations.
