G7 Summit commits to promoting India-Middle East-Europe Economic Corridor
India-Middle East-Europe Economic Corridor (IMEC) in the G7 Summit Communique issued at the end of the three-day G7 Summit, attended by Prime Minister Narendra Modi. The Communique was issued on Friday evening after the customary «family photo» at the luxury resort of Borgo Egnazia, where the G7 also reiterated a commitment to a «free and open Indo-Pacific» based on the rule of law.
Prime Minister Modi attended the G7 Summit at the invitation of Italian Prime Minister Giorgia Meloni, the host.
«We will further promote concrete G7 PGII (Partnership for Global Infrastructure and Investment) initiatives, flagship projects, and complementary initiatives to develop transformative economic corridors for quality infrastructure and investment, such as the deepening of our coordination and financing for the Lobito Corridor, the Luzon Corridor, the Middle Corridor, and the India-Middle East-Europe Economic Corridor, also building on the EU Global Gateway, the Great Green Wall Initiative, and the Mattei Plan for Africa launched by Italy,» reads the communique.
Billed as a path-breaking initiative, the IMEC envisages a vast road, railroad and shipping network among Saudi Arabia, India, the United States and Europe to ensure integration among Asia, the Middle East and the West.
The IMEC is also seen as an initiative by like-minded nations to gain strategic influence in the face of China's Belt and Road Initiative (BRI) which has faced increasing criticism over lack of transparency and disregard for sovereignty of the
