India and Cyprus have hailed the India-Middle East-Europe Economic Corridor (IMEC) for its potential to reshape global trade. During Cypriot President Nikos Christodoulides's visit, both sides reaffirmed their commitment to regional stability.
IMEC's Potential for Global Trade and Stability
India and Cyprus have recognised the transformational potential of the India-Middle East-Europe Economic Corridor (IMEC) in reshaping and promoting global trade, connectivity and prosperity during the state visit of Cypriot President Nikos Christodoulides to India.
Addressing a special media briefing as part of President Christodoulides's visit, Secretary (West) in the Ministry of External Affairs (MEA) Sibi George on Friday said that both sides reaffirmed their shared commitment towards strengthening connectivity initiatives and fostering stability across the Eastern Mediterranean and the wider Middle East region. "The India-Middle East-Europe Economic Corridor (IMEC) is a very important project for us. Both leaders recognise that it has transformational potential in reshaping and promoting global trade, connectivity and prosperity," George said.
He further stated that the leaders reiterated their commitment to promoting overall stability in the Eastern Mediterranean and the wider Middle East while emphasising the need for deeper engagement and enhanced corridors of interconnection linking India with Europe through the Middle East. "They reiterated their shared commitment to promoting overall stability in the Eastern Mediterranean and the wider Middle East and emphasised the importance of fostering deeper engagement and corridors of interconnection from India through the wider Middle East to Europe," he added.
Bilateral Dialogue and Strategic Cooperation
According to the MEA, the two sides also discussed the establishment of a bilateral connectivity dialogue aimed at strengthening cooperation in infrastructure, trade routes, logistics and strategic connectivity initiatives. The discussions took place as part of the state visit of the President of Cyprus, with both nations exploring avenues to expand cooperation in trade, investment, maritime affairs and regional connectivity
About the IMEC Project
The India-Middle East-Europe Economic Corridor (IMEC), unveiled in 2023, comprises an Eastern Corridor connecting India to the Gulf region and a Northern Corridor connecting the Gulf region to Europe. It will include a railway and ship-rail transit network, as well as road transport routes.
Visiting from May 20 to 23 at the invitation of Prime Minister Narendra Modi, it marks his first visit to the country in his current capacity, according to an official statement by the MEA. (ANI)
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