Ikrad Ahmad
About the Author
The writer belongs to the province of Baluchistan and holds a bachelor's degree in political science from Punjab University. He possesses a keen interest in Middle East affairs.
The India-Middle East-Europe Economic Corridor (IMEC) was launched during the G20 summit in New Delhi in September. This corridor aims to connect India with the Middle East and Europe, incorporating countries such as Israel, Greece, and Jordan into its route, despite them not being initial signatories. However, the initiative holds potential for expansion to include more nations. Key signatories of the IMEC agreement include India, Saudi Arabia, the USA, Italy, France, Germany, the UAE, and the European Union. Turkey expressed disappointment at not being part of the deal, with President Erdogan stating during the G20 summit in India, "We believe that there can be no corridor without Turkey. Turkey serves as a vital production and trade hub, and the most efficient trade route from east to west should pass through Turkey." The primary focus of this initiative is to enhance infrastructure development, attract global investments, and transform major cities into commercial hubs. The IMEC aims to develop seaports, construct roads, and lay railway tracks to facilitate trade. While some view the IMEC as a challenge to China's Belt and Road Initiative (BRI), President Joe Biden clarified, "We don't see this as a challenge to China's BRI but rather as a pursuit of economic stability and trade in the region."
The conflict between Israel and Palestine escalated when Hamas launched attacks on Israel in early October. President Biden expressed his belief during a joint news conference, "I speculate that one reason Hamas attacked at this time was due to progress towards regional integration for Israel and overall regional integration efforts. We must continue this important work."The IMEC meeting, which was scheduled to take place within 60 days of its launch, faced disruption due to the Israel-Palestine conflict. The conflict raises questions about the motives behind Hamas' attack on Israel. Israel's reliance on the Suez Canal for trade routes to Europe, which is owned by Egypt and handles approximately 12% of global trade and 7% of oil shipments worth over $1 trillion annually, underscores the significance of the IMEC in reducing dependency on Egypt and potentially countering Israel within Muslim countries aiming to block the Suez Canal.
Moreover, In response to WION's diplomatic correspondent Sidhant Sibal's question on whether the ongoing developments in West Asia pose a challenge to the India-Middle East-Europe Connectivity Corridor (IMEC), European Union Ambassador in New Delhi, Hervé Delphin, expressed an opinion that these developments actually highlight the need for stabilizers in the region. Delphin emphasized that all key stakeholders in the IMEC share a unified message: they are committed to continuing with the project despite the challenges posed by the current situation. He further emphasized, "We should not assume that because there is a conflict, it means the end of this project. On the contrary, I believe it highlights derailing the IMEC, the ongoing developments in West Asia emphasize the necessity and relevance of establishing stable connectivity in the region.
Nevertheless, Countries like Iran, Russia, and China, whose interests oppose the success of this corridor, seem pleased with the setback of IMEC. The future of IMEC appears to be at risk due to the ongoing power struggle in the Middle East between Israel and Hamas based in Palestine, along with the stalled negotiations between Saudi Arabia (KSA) and Israel. Without normalized relations between KSA and Israel, IMEC will remain just a distant dream for the countries involved.
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