An Indian delegation visited three major ports in the United Arab Emirates this week, including the Port of Fujairah, to discuss the initiation of the India-UAE segment of the proposed India-Middle East-Europe Economic Corridor (IMEC). The visit aimed to lay the groundwork for the IMEC's India-UAE leg, while awaiting regional peace for the Israel segment, sources told The Economic Times.
This visit follows closely after India signed a 10-year agreement to manage Iran's Chabahar Port, expected to strengthen India's trade relations with Central Asia and Eurasia, highlighting India's strategic efforts ahead of the general election, experts cited by the ET report stated.
The delegation, consisting of senior officials from the shipping and commerce ministries, Central Board of Customs, and Kandla Port, also inspected Khalifa Port and Jebel Ali Port. An anonymous official confirmed these details.
The Corridor is intended to create alternative supply routes, enhancing efficiency and reducing costs. Both sides have agreed to continue discussions to expedite the Agreement's implementation. "India Middle East Europe Corridor (IMEEC) takes shape with the 1st visit of an Indian Inter-Ministerial Delegation to the UAE for the India-UAE Intergovernmental Framework Agreement on IMEEC. Ambassador Sunjay Sudhir led the discussions with key UAE entities like DP World UAE, AD Ports Group, and UAE Customs,” the Indian mission posted on X.
The IMEEC will consist of two main corridors: the east corridor connecting India to the Gulf, and the northern corridor linking the Gulf to Europe. The Corridor aims to enhance efficiency, reduce costs, secure regional supply chains, boost trade accessibility, foster economic cooperation, create jobs, and lower greenhouse gas emissions, leading to significant integration of Asia, Europe, and the Middle East.
According to the Ministry of External Affairs, the IMEC corridor, which involves multiple stakeholders, is still in its early stages. The visit by the Indian delegation, from May 15 to 17, focused on meetings under the Framework Agreement between India and the UAE concerning cooperation for the development and operation of the IMEEC.
The Framework Agreement was signed on February 13 in Abu Dhabi, in the presence of Prime Minister Narendra Modi and UAE President Mohammed bin Zayed Al Nahyan. The Agreement outlines cooperation to develop the IMEEC and explore potential joint investments and technical collaborations.
The Indian delegation included senior officials from the Ministry of Shipping, Ports & Waterways, Ministry of Commerce and Industry, Central Board of Excise and Customs, and Deendayal Upadhyay Port, Kandla. During their visit to Khalifa Port, Fujairah Port, and Jebel Ali Port, they engaged in detailed discussions with port authorities to facilitate the movement of goods between India, the UAE, and beyond. They also held meetings with UAE Customs Authorities.
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