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The United Arab Emirates will work alongside the Governments of the Kingdom of Saudi Arabia, the Member States of the European Union, the Republic of India, and the United States on the India-Middle East-Europe Economic Corridor (IMEC).
The announcement was made within the presence of President His Highness Sheikh Mohamed bin Zayed Al Nahyan on the sidelines of the 18th G20 Heads of State and Government Summit held in New Delhi, India, the place the UAE is taking part as a visitor of honour.
The institution of the hall goals to reinforce connectivity and integration between taking part international locations considerably. It will comprise two pathways – the east hall connecting India to the Arabian Gulf and the northern hall connecting the Arabian Gulf to Europe. The cross-border ship-to-rail transit corridors will cut back delivery prices throughout the community and facilitate commerce in items and providers to, from, and between the UAE, Saudi Arabia, India, and Europe.
Participants may even assess the potential of electrical energy and clear hydrogen exports to reinforce regional provide chains and connectivity as a part of joint efforts to decrease greenhouse fuel emissions and combine environmental conservation into the initiative.
The UAE’s cooperation on this initiative displays the nation’s efforts to strengthen its worldwide partnerships and contribute in direction of a sustainable future, significantly prematurely of internet hosting the upcoming COP28 local weather convention in November.
Participants look ahead to working collectively to ascertain coordinating our bodies that may tackle a variety of technical, monetary, authorized, and regulatory affairs. In the approaching interval, members may even meet to advance the design and implementation of the transit community.
