NEW DELHI: The Group of Seven (G7) industrialized nations have pledged to advance significant infrastructure projects, including the India-Middle East-Europe Economic Corridor (IMEC), as outlined in the G7 Summit Communique issued at the conclusion of the three-day summit attended by Prime Minister Narendra Modi.
The Communique, released on Friday evening after the traditional “family photo” at the luxury resort of Borgo Egnazia, also reaffirmed the G7’s commitment to a “free and open Indo-Pacific” based on the rule of law.
“We will further promote concrete G7 PGII (Partnership for Global Infrastructure and Investment) initiatives, flagship projects, and complementary initiatives to develop transformative economic corridors for quality infrastructure and investment, such as the deepening of our coordination and financing for the Lobito Corridor, the Luzon Corridor, the Middle Corridor, and the India-Middle East-Europe Economic Corridor, also building on the EU Global Gateway, the Great Green Wall Initiative, and the Mattei Plan for Africa launched by Italy,” reads the communique.
Prime Minister Modi attended the G7 Summit at the invitation of Italian Prime Minister Giorgia Meloni, the host.
The IMEC is envisioned as a groundbreaking project, establishing a vast network of roads, railroads, and shipping routes connecting Saudi Arabia, India, the United States, and Europe to enhance integration among Asia, the Middle East, and the West.
This initiative is also viewed as a strategic counter to China’s Belt and Road Initiative (BRI), which has faced criticism for its lack of transparency and disregard for the sovereignty of participating nations. The BRI is a large-scale connectivity project linking China with Southeast Asia, Central Asia, Russia, and Europe.
The IMEC initiative was solidified on the sidelines of the G20 Summit in Delhi last year.
The Communique, released on Friday evening after the traditional “family photo” at the luxury resort of Borgo Egnazia, also reaffirmed the G7’s commitment to a “free and open Indo-Pacific” based on the rule of law.
“We will further promote concrete G7 PGII (Partnership for Global Infrastructure and Investment) initiatives, flagship projects, and complementary initiatives to develop transformative economic corridors for quality infrastructure and investment, such as the deepening of our coordination and financing for the Lobito Corridor, the Luzon Corridor, the Middle Corridor, and the India-Middle East-Europe Economic Corridor, also building on the EU Global Gateway, the Great Green Wall Initiative, and the Mattei Plan for Africa launched by Italy,” reads the communique.
Prime Minister Modi attended the G7 Summit at the invitation of Italian Prime Minister Giorgia Meloni, the host.
The IMEC is envisioned as a groundbreaking project, establishing a vast network of roads, railroads, and shipping routes connecting Saudi Arabia, India, the United States, and Europe to enhance integration among Asia, the Middle East, and the West.
This initiative is also viewed as a strategic counter to China’s Belt and Road Initiative (BRI), which has faced criticism for its lack of transparency and disregard for the sovereignty of participating nations. The BRI is a large-scale connectivity project linking China with Southeast Asia, Central Asia, Russia, and Europe.
The IMEC initiative was solidified on the sidelines of the G20 Summit in Delhi last year.