To build a new, significant transportation route, the UAE and Saudi Arabia will collaborate with India, the US, and the EU. By establishing marine and rail linkages from India to the Middle East and Europe, the India-Middle East-Europe Economic Corridor (IMEC) will increase commerce in the area.
On the margins of the 18th G20 Heads of State and Government Summit, which is being place in New Delhi, India, and in which the UAE is taking part as a guest of honor, the announcement was made in the presence of President Sheikh Mohamed bin Zayed Al Nahyan. The construction of the corridor, which will have two alternative routes, intends to considerably improve connections and integration between the participating nations. between India and the Arabian Gulf is known as the east corridor. The route that runs through northern Europe from the Arabian Gulf
Trade in products and services to, from, and between the UAE, Saudi Arabia, India, and Europe will be made easier because of the cross-border ship-to-rail transit lanes, which will also lower shipping costs across the network. As part of their combined efforts to reduce greenhouse gas emissions and include environmental conservation into the project, participants will also evaluate the possibilities of power and clean hydrogen exports to improve regional supply chains and connectivity.
With the COP28 climate summit coming up in November, the UAE’s participation in this project underscores the nation’s efforts to fortify its global alliances and contribute to a sustainable future. A range of technical, financial, legal, and regulatory issues will be addressed by the coordinating organizations that the participants will form together.The design and execution of the transit network will advance throughout the upcoming time period, and participants will meet to discuss this.
