At the G20 Summit held under India’s presidency on September 9-10, 2023, it was announced that the “India-Middle East-Europe Economic Corridor” (IMEC) will be launched. This corridor aims to connect India to Saudi Arabia and then to Europe, with the goal of enhancing diplomatic connections and trade across the region. IMEC could have significant economic and geopolitical implications, such as facilitating trade routes, promoting economic cooperation, and strengthening diplomatic relations. [1] This raises the question of whether it is emerging as a competitor to China’s Belt and Road Initiative.
IMEC spans across two continents and, much like the Belt and Road Initiative, aims to establish an international railway and maritime transportation route. The United States (US) hopes that IMEC will revitalize relations through improved diplomatic connections and economic integration between Asia, the Arabian Gulf, and Europe. [2] These two projects have the potential to promote significant economic growth by enhancing trade and economic cooperation between different regions.
Indian Prime Minister Narendra Modi, when announcing the project, said, “The project will take mutual connectivity and development in a sustainable direction globally. It will promote sustainable development for the entire world.”[3] European Commission President Ursula Von der Leyen stated, “This corridor will be the first-ever direct connection between India, the Arabian Gulf, and Europe. It will include a railway connection that will make trade between India and Europe 40% faster.”[4]
IMEC is still in the design phase, but in terms of goals, both major projects appear to be similar. However, China’s Belt and Road Initiative is larger in scale. This project, announced in 2013, has attracted the participation of over 150 countries and more than 30 international organizations. Additionally, it has secured funding exceeding 1 trillion dollars. Furthermore, over 3,000 projects have been initiated, with the aim of completing all projects by 2049. [5]
Several signatories of IMEC are also part of the Belt and Road Initiative. These countries include Italy, Saudi Arabia, and the United Arab Emirates (UAE). Recently, there has been discussion about Italy potentially withdrawing from the Belt and Road Initiative. [6] However, Italy has repeatedly emphasized that any exit from the Belt and Road Initiative would not imply a weakening of its relations with China. Italy’s Foreign Minister Antonio Tajani, during a recent visit to China, stated that a strategic partnership would be more valuable than participating in the Belt and Road Initiative.[7]
The primary geopolitical goal of the United States and Europe is to compete with China’s global infrastructure initiatives, constrain its political maneuvers, and reassert U.S. influence in Asia, which has been diminishing. Additionally, the lack of direct access to Central Asia limits India’s options. Therefore, India’s agreement with the United States and other Western actors is a strategically important objective.
India’s influence in BRICS and the recent map crisis have raised concerns about Xi Jinping’s absence at the G20 Summit. However, the dynamics in this region are highly complex and not suitable for a zero-sum game calculation. IMEC’s focus is primarily on sustainability, supported by the financing of numerous resources, especially through public-private partnerships.
By its very nature, IMEC aims to be more than just an economic corridor with mutual connections; it also seeks to be a project for communication using green hydrogen transport pipelines, digital connections, and submarine cables for data transfer. Anil Wadhwa, a former diplomat actively involved in the project, has stated that IMEC is fundamentally different from China’s Belt and Road Initiative. According to Wadhwa, more than 70% of the project’s infrastructure is already in place. As the project develops, it has the potential to be a geopolitical game-changer, benefiting Southeast Asian countries when the eastern and western segments of the corridor are completed. [8]
[1] “What Difference Will The India-Middle East-Europe Economic Corridor Make?”, The Hindu, https://www.thehindu.com/podcast/what-difference-will-the-india-middle-east-europe-economic-corridor-make/article67303260.ece, (Erişim Tarihi: 14.09.2023).
[2] “Can New India-Europe-Middle East Corridor Counter China?”, The Telegraph, https://www.telegraphindia.com/world/can-india-middle-east-europe-economic-corridor-act-as-a-foil-to-chinas-belt-and-road-initiative-dws/cid/1966075, (Erişim Tarihi: 14.09.2023).
[3] Aynı yer.
[4] Same place
[5] “How China’s Belt and Road Took Over the World” The Diplomat, https://thediplomat.com/2023/09/how-chinas-belt-and-road-took-over-the-world/, (Erişim Tarihi: 14.09.2023).
[6] “Italian PM: Strong Partnership With China More Important Than Belt And Road Initiative”, Reuters, https://www.reuters.com/world/italian-pm-tells-chinas-premier-plan-quit-belt-road-initiative-media-2023-09-10/, (Erişim Tarihi: 14.09.2023).
[7] Aynı Yer.
[8] “India-Middle East-Europe Economic Corridor To Counter China?”, DW, https://www.dw.com/en/can-new-india-europe-middle-east-corridor-counter-china/a-66799232, (Erişim Tarihi: 14.09.2023).
