Jerusalem

Israel’s Prime Minister Benjamin Netanyahu described the launch of the ambitious India-Middle East-Europe Economic Corridor (IMEC) as “major news” for Israelis and said it was the “largest cooperation project in our history” that would impact the Middle East, Israel, and the entire globe.

Advertisment

In a bid to counter China's Belt and Road Initiative (BRI), the new economic corridor was jointly unveiled on Saturday by leaders from the US, India, Saudi Arabia, the United Arab Emirates, France, Germany, Italy, and the European Union in New Delhi.

Netanyahu said that Israel is the centre of a ground-breaking worldwide project that will connect infrastructure from Asia to Europe in a late-Saturday night video address.

“I welcome the statement that was released today by the United States, India, Saudi Arabia, the UAE and the European Union, as well as France, Italy and Germany. Israel is at the focus of an unprecedented international project that will link infrastructure from Asia to Europe. This link will also realise a multi-year vision that will change the face of the Middle East, and Israel, and will affect the entire world,” he said.

Advertisment

The IMEC is being viewed as a potential substitute for the BRI, a large-scale project started by Chinese President Xi Jinping that has also received criticism over its debt sustainability, particularly from smaller countries.

In order to connect China, the world’s largest manufacturer, with Southeast Asia, Central Asia, the Gulf region, Africa, and Europe through a network of land and sea links, Xi introduced the BRI in 2013.

The IMEC’s declaration coincides with discussions about the rapprochement between Israel and Saudi Arabia. Although there are no diplomatic ties between the two nations, the Gulf state has recently been viewed to soften its stance towards Israel by allowing Israeli airlines to use its airspace.

Advertisment

“I would like to thank US President (Joe) Biden and his administration for the major effort that has led us to today's historic announcement. Several months ago, the US contacted us regarding the realisation of this historic opportunity. Since then, it has held urgent diplomatic contacts in order to bring about today's breakthrough,” he added.

According to him, the initiative will change the look of the area and make the dream of "normalising the Middle East" possible. The programme calls for the building of trains, a hydrogen pipelines, fibre optic communications lines, electrical cables, and additional infrastructure.

He added that the State of Israel will offer all of its skills, knowledge, drive, and dedication to the realisation of the biggest cooperative endeavour in its history. All government ministries would be given the green signal to collaborate in making this ambition a reality, he added.

In order for this vision to materialise as fast as possible, Netanyahu stated, “I have directed the National Security Council, in the Prime Minister’s Office, to coordinate the staff work and also the close cooperation with the US and other countries.”

(With inputs from PTI)

WATCH WION LIVE HERE