NEW DELHI: The clock is ticking on the 60-day deadline set for fleshing out the ambitious IMEC (India-Middle East-Europe Corridor) project, seen as an alternative to China’s BRI.
“The ministers will have to meet in 60 days to see if IMEC makes financial sense. Only there can we make a judgement on how it is likely to proceed,” says Navdeep Suri, India’s former ambassador to the UAE.
The project, currently only a plan, will have two separate corridors – the eastern corridor will link India to the Arabian Gulf and the northern corridor will link the Arabian Gulf to Europe. The key question is viability for which there is no answer at present. Does a multimodal transport corridor offer greater advantages, including cost to the current largely ship-borne system?
European Commission President Ursula von der Leyen says the corridor promises to significantly reduce travel time by 40%, as it is the “most direct connection between India, Middle East, and Europe.” From New Delhi’s point of view, IMEC offers India a much-needed alternative to the Suez Canal. As Suri pointed out, “current charges for one crossing of the Suez Canal vary from $600-700. Also, the canal is so narrow that one ship can block it (as was the case in 2021.) So, it is not a bad idea from India’s point of view to have an alternate route to Europe.”
Diplomats to the region also point out that unlike other mass connectivity projects, much of the groundwork for IMEC has already been done. Indian ships already move from Mumbai and Mundra ports to Jebel Ali and Fujairah ports in the UAE from where the recently developed Etihad rail link will go directly to the Saudi border. From Saudi Arabia to Jordan most of the infrastructure has been put in place and what is currently missing is a 300-kilometre stretch from the Jordanian border to the Israeli border. Once this is done, the goods can then enter Israel where they will be transferred to Israel’s Haifa port and thence to ports in Greece, France, and Italy.
One of the positives of this proposed route is that much of the transport would be by high-speed rail rather than ships. But a common system of standards, rules, and interoperability of the rail networks would have to be examined.
There are larger geopolitical considerations to consider. IMEC could significantly boost India’s global connectivity. Israel sees the project as helping its outreach to Arab neighbours, especially Saudi Arabia. Since 2017, Tel Aviv has been pushing an initiative called “Tracks for Regional Peace” where it has proposed a rail project linking Haifa seaport to Jordan’s rail network, which would then move to other Arab nations. IMEC suits its objectives perfectly.
Outwardly Beijing has been supportive although there may be some concern given that Saudi Arabia and the UAE have enough money between them to get it going. Senior diplomat Dr Ausaf Sayeed, Secretary (Consular, Passport, Visa & Overseas Indian Affairs) described the IMEC as one of the biggest outcomes of the G20 summit. “It is one of the biggest plurilateral agreements that you could think of connecting several like-minded partner countries across different geographic zones,” adding, “We don’t see it as challenging towards another country,” an indirect reference to China, which may see the IMEC as a challenge to the BRI.
Some experts are looking at how IMEC and the BRI may be mutually beneficial. However, diplomats believe this is unlikely. The other country that will be worried by IMEC is Turkey. President Erdogan made it clear at the G20 that there could be no “economic corridor without Turkey.”
His objections according to a senior diplomat, reflect a growing fear that its position as the link between Asia and Europe, would be threatened along with its own proposed pipeline. “The growing scepticism of China’s BRI model has prompted states to come up with alternatives. Turkey has come up with the Turkic Corridor or the ‘Middle Corridor” which will take goods from China to Europe. A new corridor will certainly not suit its plans,” said the diplomat.
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