India, UAE hold talks on India-Middle East-Europe Economic Corridor

A new impetus has been imparted today to the ambitious Transcontinental Connectivity Project – India-Middle East-Europe Economic Corridor (IMEEC) launched during the G-20 Summit held in Delhi in September 2023 with signatories including India, UAE, USA, EU, Saudi Arabia, France, Italy, and Germany, a statement by the Indian Embassy in Abu Dhabi stated.

The delegation conducted discussions on stakeholders, including those of shipping lines.

“A delegation led by Secretary, Ministry of Ports, Shipping and Waterways, Shri TK Ramachandaran held substantive discussions with CEO of Abu Dhabi Ports, HE Mohamed Juma Al Shamisi. The delegation included Ambassador of India to UAE, HE Sunjay Sudhir, CMD, RITES Ltd Sh Rahul Mithal and Chairman, Jawaharlal Nehru Port Authority (JNPA) Sh Unmesh Wagh. Prior to the meeting, an interactive discussions was held with stakeholders, including Terminal Operators, Shipping Lines and Customs. A presentation was also made in this regard,” the statement read.

The discussions also revolved around Master Application for International Trade and Regulatory Interface, which was launched during Dubai Crown Prince’s visit to India.

“Earlier, Master Application for International Trade and Regulatory Interface (MAITRI), was launched during the visit of His Highness Sheikh Khaled bin Mohamed bin Zayed Al Nahyan, Crown Prince of Abu Dhabi to India in September 2024. MAITRI is a platform which will integrate existing trade portals including National Logistics Portal- Marine (NLP-M), Indian Customs Electronic Gateway (ICEGATE), Unified Logistics Interface Platform (ULIP) with similar portals on the UAE side providing seamless and paperless connectivity,” the statement read.

“MAITRI will also support the Virtual Trade Corridor (VTC) which was also launched during the visit of His Highness Sheikh Khaled. VTC will not only be an integral part of IMEEC but will also help bilateral trade between India and the UAE which stands at over USD 85 billion,” the statement added.

Considerable work has already happened on MAITRI platform with Ministry of Ports, Shipping and Waterways (MoPS&W) of India assigning the work of developing the platform to RITES and C-DAC, who are working closely with JNPA, Deendayal Port and other major ports of India. A workshop in this regard was held in Mumbai on 27th February with the participation of Hon’ble Minister of Ports, Shipping, and Waterways, Shri Sarbananda Sonowal. The workshop also saw participation from Abu Dhabi Ports and DP World and other important stakeholders from the UAE side, the statement read.

IMEEC signatories represent a large part of global GDP. IMEEC will provide an alternate supply route connecting India, Europe and the USA through countries of the Middle East. In addition to port and rail infrastructure, IMEEC is also envisaged to provide energy and digital connectivity. The work of laying the electrical grid between UAE and India for solar power is also underway. The two countries are also working on green hydrogen and public digital infrastructure, as per the statement.

“A new impetus to IMEEC & India-UAE Virtual Trade Corridor! A delegation led by Secy of Ministry of Ports, Shipping and Waterways, T K Ramachandran held discussions with H.E. Mohamed Juma Al Shamisi, CEO of Abu Dhabi Ports on VTC and Master Application for International Trade and Regulatory Interface (MAITRI).”