Ship, railway from India to Europe via Gulf: Saudi with decisive move

SAUDI Arabia’s Council of Ministers has approved the Memorandum of Understanding (MoU) on the Principles of the India-Middle East-Europe Economic Corridor (IMEC). The Saudi Press Agency (SPA) reports that the decision was announced at a meeting held in Riyadh under the leadership of King Salman bin Abdulaziz Al Saud.

India, the United States (US), the United Arab Emirates (UAE), Saudi Arabia, France, Germany, Italy and the European Union signed a memorandum of understanding for the establishment of IMEC at the G20 summit held in Delhi in September this year.

The corridor aims to boost economic development by increasing connectivity and integration between Asia, West Asia, the Middle East and Europe. The project is divided into two main areas namely Eastern Corridor connecting India with West Asia/Middle East and Northern Corridor connecting West Asia/Middle East with Europe.

The project aims to provide a reliable and cost-effective means of transshipment of goods and services between South East Asia, India and West Asia/Middle East Europe. The project will be complemented by cross-border ship-to-rail transit networks.

Meanwhile, the Arab League hopes that India will play an important role in maintaining peace and stability in the global system, Saudi Arabia’s representative in India, Saleh Eid H Al Hussaini, said on Tuesday.

Al-Hussaini also said that an Arab-Islamic summit held in Riyadh had several resolutions. The summit formed a delegation to reach all major country capitals to explain the need for peace and ceasefire. If the ceasefire is not supported, it means more killings, he said.