India, UAE Conclude Meeting on India-Middle East-Europe Economic Corridor
India and the UAE recently concluded a significant meeting focused on the India-Middle East-Europe Economic Corridor (IMEEC). The meeting, held under the Intergovernmental Framework Agreement, aimed at enhancing cooperation for the development and operationalization of the corridor. This initiative is set to provide alternative supply routes, generating efficiencies and reducing costs.
Key Discussions and Visits
Delegation Leadership and Participants: The Indian delegation was led by Indian Ambassador to the UAE, Sunjay Sudhir, and included senior officials from various ministries and agencies such as the Ministry of Shipping, Ports & Waterways, Ministry of Commerce and Industry, Central Board of Excise and Customs, and Deendayal Upadhyay Port, Kandla.
Engagements with UAE Entities: The delegation engaged with key entities including DP World UAE, AD Ports Group, and UAE's Federal Customs Authority to discuss facilitation of goods movement.
Port Inspections and Meetings: The delegation visited Khalifa Port, Fujairah Port, and Jebel Ali Port, where they held detailed discussions with port authorities and UAE Customs Authorities.
Strategic Importance and Implementation
Framework Agreement and Early Implementation: The meeting, held just three months after signing the agreement, underscores the importance both nations place on IMEEC. Both sides agreed to continue discussions for early implementation of the corridor.
Leaders' Commitment: The agreement, signed on February 13 in the presence of Indian Prime Minister Narendra Modi and UAE President Mohammed bin Zayed Al Nahyan, aims at joint investment and technical collaboration towards developing IMEEC.
Bilateral Relations and Further Cooperation
Strategic Partnership: The India-UAE bilateral relationship, elevated to a Comprehensive Strategic Partnership in 2017, continues to expand with significant progress in various sectors.
G20 MoU Signing: The IMEEC project saw broader international cooperation, with a Memorandum of Understanding signed by India, the US, UAE, Saudi Arabia, France, Germany, Italy, and the European Union during the G20 Summit in New Delhi in September last year.
