India, UAE Commence Talks On India-Middle East-Europe Economic Corridor

• A high-level Indian delegation concluded its first round of talks with UAE officials  on developing the ambitious India-Middle East-Europe Economic Corridor (IMEEC), just three months after the two nations inked a framework agreement for the project.
• The inter-ministerial team from India, comprising top Officials from shipping, Ministry of Shipping, Ports & Waterways, Ministry of Commerce and Industry, Central Board of Excise and Customs and Deendayal Upadhyay Port, Kandla visited major UAE shipping hubs from May 15-17.
• During their three-day stay, they engaged in detailed discussions with authorities at Khalifa Port, Fujairah Port and Jebel Ali Port on facilitating goods movement along the envisioned economic corridor linking India with markets in the Middle East and Europe.The delegation also met UAE customs officials as part of efforts to cooperate on streamlining trade flows under the IMEEC initiative.
• The swift scheduling of these follow-up meetings after February’s signing of the bilateral framework agreement underscores the high priority attached to the corridor by New Delhi and Abu Dhabi. The pact, inked during Prime Minister Narendra Modi’s UAE visit this February enables joint investments and technical collaboration for developing the corridor aimed at generating logistical efficiencies and cost reductions.

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Published date : 22 May 2024 10:45AM