An inter-ministerial Indian delegation on the framework agreement on the India-Middle East-Europe Economic Corridor (IMEEC) has visited the UAE for the first time to hold discussions.
Key points
- The visit took place within three months of signing the Agreement. The Framework Agreement was signed between India and the UAE on February 13 in the presence of Prime Minister Narendra Modi and President of the UAE Mohammed bin Zayed Al Nahyan in Abu Dhabi.
- The Corridor will provide effective alternate supply routes generating efficiencies and reducing costs.
- Both sides agreed to continue discussions for early implementation of the Agreement.
- The IMEEC will comprise two separate corridors, the east corridor connecting India to the Gulf and the northern corridor connecting the Gulf to Europe.
- The corridor will provide a reliable and cost-effective cross-border ship-to-rail transit network to supplement existing maritime routes.
- The IMEC corridor aims at integration of Asia, Europe and the Middle East involves multiple stakeholders and is at an incipient stage.
