India & UAE initiative could be extended through India-Middle East-Europe Economic Corridor project: Piyush Goel
The Union Minister of Commerce and Industry, at the High-Level Roundtable on Connectivity and Economic Growth in New Delhi, highlighted the India-Middle East-Europe Economic Corridor (IMEC) as a transcontinental initiative poised to redefine global trade dynamics and strengthen international economic cooperation. What is the India-Middle East-Europe Economic Corridor? About: The IMEC is a strategic multi-modal connectivity initiative launched through a Memorandum of Understanding (MoU) during the G20 Summit 2023 in New Delhi. Signatories include India, US, Saudi Arabia, the United Arab Emirates, France, Germany, Italy and the European Union. The initiative is a part of the Partnership for Global Infrastructure and Investment (PGII) , launched by the G7 in 2021. IMEC seeks to position itself as a viable alternative to China’s Belt and Road Initiative (BRI) by promot...