Egypt has expressed strong interest in joining the India-Middle East-Europe Economic Corridor (IMEE Corridor), an ambitious trade project connecting India, Middle Eastern nations, and Europe. Egypt’s Minister of Investment and Foreign Trade, Hassan El-Khatib, emphasized Egypt’s strategic location and robust trade infrastructure as key reasons for its potential inclusion.
The IMEE Corridor, first announced during the G20 Summit in New Delhi in September 2023, aims to strengthen global trade routes by connecting India directly to Europe through the Middle East. Currently, the project includes countries like the UAE, Saudi Arabia, France, Germany, Italy, and the European Union, alongside India and the US.
El-Khatib highlighted Egypt’s existing infrastructure, particularly its ports such as Alexandria, which are already integrated into major global shipping routes. He pointed to the iconic Suez Canal as one of the most efficient and cost-effective trade passages globally, further supported by Egypt’s recent development of an inland highway network and a high-speed rail project linking the Red Sea to the Mediterranean.
Joining the IMEE Corridor could significantly boost Egypt’s economy, aligning it with India’s ambitions of high GDP growth, industrial expansion, and increased exports. Egypt targets economic growth of 6-7% in the coming years, mirroring India’s goals. Both nations see great potential in leveraging their competitive labor markets and industrial capacities.
However, challenges remain. Recent geopolitical tensions, notably the ongoing Israel-Hamas conflict, have already impacted bilateral trade, reducing it to $4.6 billion from over $6 billion previously. Egypt hopes joining the corridor could offset these disruptions, stabilizing and potentially increasing trade and economic cooperation.
As the IMEE Corridor moves forward, Egypt’s participation could indeed serve as a crucial link, enhancing overall efficiency and connectivity, benefiting the region’s economic stability and growth.
GeoWire 
Leave a comment