India and Cyprus discuss IMEC's 'transformational potential' in reshaping global trade, connectivity
New Delhi, May 22
Prime Minister Narendra Modi and Cyprus President Nikos Christodoulides discussed India-Middle East-Europe Economic Corridor during their meeting in New Delhi on Friday, recognising that the initiative has transformational potential in reshaping and promoting global trade, connectivity and prosperity.
Addressing a special briefing on Cyprus President's ongoing State Visit to India in New Delhi on Friday, Secretary (West) at the Ministry of External Affairs (MEA), Sibi George, termed connectivity as an "important aspect" of India's engagement with European Union (EU) and Cyprus. He announced that the two nations have set up a bilateral connectivity dialogue.
When asked about PM Modi and President Christodoulides discussing IMEC, George responded, "It was discussed. IMEC is a very important project for us. Both leaders recognised that it has transformational potential in reshaping and promoting global trade, connectivity and prosperity. They reiterated their shared commitment to promoting stability in the eastern Mediterranean and the wider Middle East and emphasised the importance of fostering deeper engagement and corridors of interconnection from India through the wider Middle East to Europe."
"They discussed the establishment of a bilateral connectivity dialogue. So, connectivity is a very important aspect of our engagement with the European Union, engagement with the Cyprus, engagement with the countries in the region. So, IMEC was discussed in this context and it's important note that we have set up a bilateral connectivity dialogue in that regard. So, discussions will continue," he added.
It was on the sidelines of the G20 Leaders' Summit held in New Delhi in 2023 that the leaders of India, European Union, France, Germany, Italy, Saudi Arabia, UAE and US signed a Memorandum of Understanding (MoU) committing to work together to develop IMEC.
The IMEC will comprise two separate corridors, the east corridor connecting India to the Gulf and the northern corridor connecting the Gulf to Europe. The corridor intends to enhance connectivity, increase efficiency, reduce costs, secure regional supply chains, increase trade accessibility and generate jobs, resulting in a transformative integration of Asia, Europe and Middle East.
During the special briefing, George termed President Christodoulides' visit to India an "important milestone" in bilateral relations. Stressing that India and Cyprus share "close and time-tested relationship", he said that the two nations will mark will mark 65 years of establishment of diplomatic relationship in 2027, which will be commemorated with various activities in both the countries.
"This visit is an important milestone in India-Cyprus relations as the two leaders have decided to elevate the bilateral relations to the level of strategic partnership. Following the talks, both sides exchanged various government-to-government MoUs and agreements signed during the visit," he said.
— IANS
Reader Comments
It's good that we're thinking about connectivity with Europe, but I hope IMEC doesn't just become another project stuck in paperwork. The MEA says it will generate jobs and reduce costs—let's see some concrete timelines and investments.
65 years of diplomatic ties with Cyprus—that's a solid relationship! This strategic partnership and the connectivity dialogue are steps in the right direction. But we must ensure that IMEC doesn't get bogged down by geopolitical tensions in the Middle East. 😕
Honestly, I'm tired of seeing big announcements like IMEC without any visible impact on the ground. The G20 summit was ages ago—where are the actual railway lines or ports that India is building? Let's focus on execution, not just photo ops. 😒
As an Indian businessman dealing in textiles, this corridor could be a game-changer for exports to Europe. If IMEC cuts transit time and costs, our small and medium enterprises will benefit massively. Kudos to the government for pushing this forward! 🚢💪
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