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New economic corridor to connect Asia, Europe & US
The New Indian Express
|September 10, 2023
INDIA, the US, Saudi Arabia, the UAE, France, Germany, Italy and the European Union on Saturday signed an MoU to develop a new India-Middle EastEurope Economic Corridor (IMEC). The corridor is expected to boost economic development through enhanced connectivity and economic integration across two continents.
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Hailed by the PM Narendra Modi as "a beacon of cooperation, innovation, and shared progress", the corridor will have a rail connectivity, linked through ports connecting Europe, Middle East, and Asia.
According to a statement released by the White House, the US and its partners intend to link both continents (Asia and Europe) to commercial hubs and facilitate the development and export of clean energy; lay undersea cables and link energy grids and telecommunication lines to expand reliable access to electricity; enable innovation of advanced clean energy technology; and connect communities to secure and stable Internet.
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