Lauding the India-Middle East-Europe Economic Corridor (IMEC) as a “game-changing investment” and a key element in global job creation and food security, US President Joe Biden emphasised the global significance of the IMEC launched on September 9 in New Delhi.
Biden highlighted his country’s commitment to investing in the novel rail line extending from Angola towards the Indian Ocean, and envisaged it as a crucial step to foster job creation and enhance food security on a global level. He forecasted the term ‘economic corridor’ to resonate prominently in the forthcoming decade.
The IMEC is in collaboration with the UAE, Saudi Arabia, the European Union, France, Italy, Germany, and the US. Prime Minister of India, Narendra Modi conveyed that this corridor would be a major medium of economic integration between India, West Asia, and Europe, and show a sustainable way to the whole world.
The collaborative project aims to accomplish greater economic integration between nations through its two outlined paths: the east corridor connecting India to the Arabian Gulf and the northern artery binding the Arabian Gulf to Europe. These corridors will leverage a sophisticated network of railways and shipping routes backed by digital and electricity cable networks and clean hydrogen export pipelines to facilitate smoother transit of goods and services.
