G20 Summit: UAE to participate in India-Middle East-Europe Economic Corridor

The UAE is set to become a part of an intercontinental corridor connecting Asia and Europe through Saudi Arabia by railway, the country announced at the sidelines of the G20 summit in India, state news agency (WAM) reported on Saturday.

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The India-Middle East-Europe Economic Corridor (IMEC) aims to facilitate the transfer of renewable electricity and clean hydrogen through cables and pipelines. The IMEC is expected to strengthen commercial trade and increase the passage of goods by linking railways and ports.

The railway corridor will be comprised of two different pathways, the east corridor connecting India to the Gulf and the northern corridor connecting the Gulf to Europe.

The initiative is also aimed at increasing sustainability by lowering greenhouse gas emissions and assessing the potential of clean hydrogen to increase the efficiency of regional supply chains.

Leaders from the UAE, Saudi Arabia, the European Union, India and the US are expected to meet soon to establish coordinating bodies to discuss the design and implementation of the IMEC network, and establish coordinating bodies to regulate technical, financial and legal affairs.

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