On the sidelines of the recent G20 summit, the US-led “India-Middle East-Europe Economic Corridor” (IMEC) plan was announced. The plan aims to build a commercial route from India to Europe via the Arabian Peninsula, Israel and the Mediterranean. Crossing the Arabian Sea, crossing deserts and passing through geopolitically complex regions, the cargo traveled through loading, unloading, reloading on trains, reloading and reloading ships to Europe.
At present, the United States, India, Saudi Arabia, the United Arab Emirates, France and Germany have signed memorandums of understanding on this. However, the memorandum did not list the source of funding for the project, only indicating that a working group would discuss specific details and timelines in the next 60 days.
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