IMEC corridor(India-MiddleEast-Europe-Economic corridor)

-


DID You Know?:

πŸ” Why was I.M.E.C corridor initiated ?
πŸ” Significance of  I.M.E.C
πŸ” 
πŸ” 
1. Why was I.M.E.C corridor initiated ?
The economic powerhouses of India and Europe faced a significant geographical challenge with the ancient trade route passing through disputed territories, vulnerable to blockades by adversaries during times of political crisis. This necessitated the exploration of an alternative route in collaboration with their economic allies to circumvent potential disruptions. This route was I.M.E.C Many countries supported this initiative due to the shorter distance of the new route compared to the traditional one, as well as its strategic response to China's Belt and Road initiatives. But, the one who initiated was neither India nor any Middle East Nation nor any European Nation, it was U.S.A. though, U.S.A. was not geographically involved It was to improve India US economic ties
2. Significance of I.M.E.C
I.M.E.C(India Middle East Europe Economic Corridor) the great economic corridor not only due to its economic importance but also since it counters economic dependence on china or disputed regions for connectivity. The possible route was very narrow and vulnerable to be blocked due to a war or conflict with adversaries. It also shattered China's Belt and Road Initiative, which was quite similar to the ancient silk route while I.M.E.C was based on the current economic partners and smaller distance while has sea routes, train & road. While it also enhances transportation efficiency, reduction of cost, economic unity, and minimal carbon footprint.
3. What's Other countries response to I.M.E.C?
  1. Turkey: Turkey's president Erdoğan has Recently announced in opposition of I.M.E.C, "no corridor can be made without turkey” for following reasons: It is afraid that the belt & road initiative which would possibly help it might get countered, and it may fall into Recession while the other reason is to become a major monopolist of trade between Europe and Asia.
  2. Russia:  Russian President Vladimir Putin has said that the I.M.E.C will benefit Russia by developing logistics. He also said that the project has been under discussion for several years which shows the bilateral nature of the economic corridor

Comments

Post a Comment

Popular posts from this blog

ASEAN: The Silent Rising Superpower

-
Image
A.S.E.A.N.  Did You Know ? : - ❓What is A.S.E.A.N.? ❓Why was it formed? ❓What are its projects and impacts? ❓What challenges does it face? 1. What is A.S.E.A.N. ?   A.S.E.A.N.(Association of Southeast Asian Nations) is a multilateral organization of Southeast Asian nations, founded in 1967, with founding members being Indonesia, Philippines, Malaysia, Thailand, and Singapore, and additional members being Brunei Darussalam (1984), Vietnam (1995), Lao PDR (1997), Myanmar, and Cambodia (1999). In late 2022, A.S.E.A.N. announced East Timor as its newest member, with full membership beginning in 2025. 2. Why was A.S.E.A.N. ?   A.S.E.A.N. formed in 1967 with the primary goal of social, economic & cultural of its member and to promote mutual cooperation and shows us the essence of team work. As one of its member Vietnam is landlocked and as neighboring countries belong to A.S.E.A.N. The group expresses the unity as though they may differ geographically they are we...
Read more

QUAD(Quadilateral-Union-Security-Dialouge)

-
Image
Did you know:- 🎯 Why was quad initiated? 🎯 Why and When was Q.U.A.D formed? 🎯 What are the interests of the Quad members? 🎯 What are the Aims of Quad? 1. What is Q.U.A.D initiated?  The Quadrilateral Union Security Dialogue popularly called Q.U.A.D is a Union of India, Japan, the United States of America, and Australia though it is a loose group(a member country may leave the union due to some diplomatic reasons) rather than a formal alliance but, its goal is still quite broad. It works to stabilize peace in the Indo-Pacific Region from both military and Political dominance in the Indo-Pacific by any country. 2. Why and When was Q.U.A.D formed? Shinzo Abe, the Japanese Prime Minister, started it in 2007 with the help of Australia's Prime Minister John Howard. It had been in Japan's favor too because it was in response to China's military exercises in the Malabar the in Indo-Pacific which had affected Japan, India, Australia, and the United States since it was the route...
Read more