India, UAE conclude meeting on India Middle East Europe Economic Corridor | Economy & Policy News

According to the Indian Embassy in Abu Dhabi press release, the IMEEC will provide effective alternate supply routes generating efficiencies and reducing costs

Earlier in February, PM Modi and UAE President Sheikh Mohamed bin Zayed Al Nahyan held a meeting and discussed the India-UAE bilateral relationship and witnessed the exchange of eight agreements.ANI

The first inter-ministerial delegation from India held meetings from May 15-17 under the Intergovernmental Framework Agreement between the two countries concerning cooperation for the empowerment and operation of the India-Middle East-Europe Economic Corridor (IMEEC).

According to the Indian Embassy in Abu Dhabi press release, the IMEEC will provide effective alternate supply routes generating efficiencies and reducing costs. Indian Ambassador to UAE Sunjay Sudhir led the discussions with key entities like DP World UAE, AD Ports Group and UAE’s Federal Customs Authority.

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“The Indian delegation comprised of senior officials from Ministry of Shipping, Ports & Waterways, Ministry of Commerce and Industry, Central Board of Excise and Customs and Deendayal Upadhyay Port, Kandla,” the press release stated.

“They visited Khalifa Port, Fujairah Port and Jebel Ali Port where they held detailed discussions with the respective Port authorities for facilitating the movement of goods between India and the UAE and beyond. They also held meetings with UAE Customs Authorities,” it added.

Indian Embassy in Abu Dhabi stated, “The visit, which took place within three months of signing the Agreement, reflects the importance both governments attach to the IMEEC project. The Corridor will provide effective alternate supply routes generating efficiencies and reducing costs. Both sides agreed to continue discussions for early implementation of the Agreement.”

In a post on X, the Indian Embassy in Abu Dhabi stated, “India Middle East Europe Corridor (IMEEC) takes shape with the 1st visit of n Inter-Ministerial Delegation to for Intergovernmental Framework Agreement on IMEEC. Amb @sunjaysudhir led the discussions with key UAE entities like @DPWorldUAE @ADPortsGroup @CUSTOMSUAE.”

On February 13, India and UAE signed the framework agreement in the presence of Prime Minister Narendra Modi and UAE President Mohammed bin Zayed Al Nahyan in Abu Dhabi, according to the press release. The Agreement provides for cooperation towards the development of IMEEC and exploring potential joint investment and technical collaboration towards this objective.

Earlier in February, PM Modi and UAE President Sheikh Mohamed bin Zayed Al Nahyan held a meeting and discussed the India-UAE bilateral relationship and witnessed the exchange of eight agreements. The two leaders met during PM Modi’s two-day visit to the UAE.

“The two leaders discussed the India-UAE bilateral relationship, which was formally elevated to a Comprehensive Strategic Partnership during the visit of Sheikh Mohamed bin Zayed Al Nahyan to India in 2017. They expressed satisfaction on the progress achieved in various sectors, noting that the partnership between the two countries has been significantly expanding over the years,” the joint statement read.

The agreements signed between India and the UAE are the Bilateral Investment Treaty, the Inter-Governmental Framework Agreement on the India-Middle East-Europe Economic Corridor (IMEEC), the MoU for cooperation on Digital Infrastructure Projects, the MoU in the field of Electricity Interconnection and Trade, the MoU for cooperation with the National Maritime Heritage Complex, Lothal at Gujarat.

India, the US, UAE, Saudi Arabia, France, Germany, Italy and the European Union signed the Memorandum of Understanding (MoU) to establish the India-Middle East-Europe Economic Corridor (IMEEC) during the G20 Summit held in New Delhi in September last year.

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