World leaders at the G7 Summit in Italy
The Group of Seven nations agreed to advance concrete infrastructure initiatives such as the India-Middle East-Europe Economic Corridor (IMEC) in the G7 Summit Communique issued at the end of the three-day G7 Summit, which Prime Minister Narendra Modi attended.
The Communique was issued on Friday evening following the customary family photo at the luxury resort of Borgo Egnazia, where the G7 also reaffirmed their commitment to a free and open Indo-Pacific based on the rule of law.
Prime Minister Modi attended the G7 Summit at the invitation of the host, Italian Prime Minister Giorgia Meloni.
The communique reads, “We will further promote concrete G7 PGII (Partnership for Global Infrastructure and Investment) initiatives, flagship projects, and complementary initiatives to develop transformative economic corridors for quality infrastructure and investment, such as the deepening of our coordination and financing for the Lobito Corridor, the Luzon Corridor, the Middle Corridor, and the India-Middle East-Europe Economic Corridor, also building on the EU Global Gateway, the Great Green Wall Initiative, and the Mattei Plan for Africa launched by Italy”.
The IMEC billed as a ground-breaking initiative, envisions a vast road, railroad, and shipping network among Saudi Arabia, India, the United States, and Europe to ensure integration between Asia, the Middle East, and the West.
The India-Middle East-Europe Economic Corridor or IMEC is also viewed as an endeavor by like-minded nations to gain strategic influence in the face of China’s Belt and Road Initiative (BRI) which has faced increasing criticism for a lack of transparency and disdain for national sovereignty.
China’s BRI is a massive connectivity project that links China to Southeast Asia, Central Asia, Russia, and Europe.
