Announcement of Economic Corridor Initiative
Installation of Intercontinental Energy Transmission and Communication Networks

A US-led initiative to connect infrastructure such as railways and ports across India, the Middle East, and Europe has been launched. Analysts view this as a countermeasure to China's Belt and Road Initiative (BRI), which links China, Central Asia, and Europe via land and maritime Silk Roads.


On the 9th (local time), the White House announced that the leaders of the US, India, Saudi Arabia, the United Arab Emirates (UAE), France, Germany, Italy, and the European Union (EU) signed a memorandum of understanding to promote the 'India-Middle East-Europe Economic Corridor (IMEC)' initiative during the G20 summit held in New Delhi, India.


At the G20 meeting, which Chinese President Xi Jinping did not attend (Premier Li Qiang attended on his behalf), the US launched another multinational initiative aimed at countering China.

U.S. President Joe Biden. <br>Photo by Yonhap News

U.S. President Joe Biden.
Photo by Yonhap News

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The memorandum, which focuses on connecting India, the Middle East, and Europe through offline means such as railways and ports to facilitate the transport of energy sources like hydrogen and promote trade, was signed by the US, EU, India, Saudi Arabia, and the UAE. Israel and Jordan are also reported to be joining the initiative. The White House stated that clean hydrogen will be supplied to Europe via a transport pipeline starting from Israel.


The White House said, "IMEC aims to usher in a new era of railway and port connectivity between Europe, the Middle East, and Asia," adding, "It is expected to promote economic development through enhanced connectivity and economic integration between the two continents."


At a joint announcement event with Indian Prime Minister Narendra Modi and others, President Biden said, "This initiative is the 'real big deal' connecting ports across the Asian and European continents," and added, "It will create a more stable and prosperous Middle East." Ursula von der Leyen, President of the European Commission, also called the initiative "historic," stating, "Rail connectivity alone will increase the speed of trade between the EU and India by 40%."


From the Biden administration's perspective, this initiative was unveiled ahead of the Belt and Road Forum, a multilateral international meeting hosted by President Xi Jinping next month, as a plan to counter Xi's key foreign project, the Belt and Road Initiative.


In particular, it is interpreted as a move to create a diplomatic environment favorable to the US in the Middle East, where American influence is waning and China's influence is growing.


Earlier this year, China showcased its presence in the Middle East by mediating the normalization of relations between Saudi Arabia and Iran, who are considered 'archrivals.' Meanwhile, the Biden administration has recently invested significant diplomatic efforts in normalizing relations between Saudi Arabia, the Sunni Islamic leader, and Israel. Including Saudi Arabia and Israel in this economic corridor initiative appears to be part of an attempt to establish a US-friendly power dynamic and stable situation in the Middle East, where China's influence is expanding.


Additionally, it is speculated that the US is also mindful of highlighting diplomatic achievements that President Biden can leverage in his re-election campaign next year.



Meanwhile, the participating countries plan to form a working group for 60 days to develop detailed implementation plans and timetables, including funding arrangements. The White House explained, "All participating countries have committed to establishing a coordinating body to handle all technical, design, financing, legal, and related regulatory standards for the initiative."


This content was produced with the assistance of AI translation services.

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