Egypt claims that development on the transit corridor connecting India and Europe depends on the resolution of the Palestine issue
Egypt’s foreign minister stated on Friday that progress on a U.S.-backed transportation project to link India to Europe via the Middle East by rail and sea depended on the resolution of the Palestinian crisis.
The India-Middle East Economic Corridor (IMEC) project was viewed as a U.S. alternative to China’s Belt and Road drive on global infrastructure when it was launched in September 2023 on the margins of a summit of the leaders of the Group of 20 major countries.
After Hamas, an Islamist organization from Palestine, attacked Israel on October 7, 2023, a month after the declaration, war broke out.
During a visit to New Delhi, Egypt’s Foreign Minister Badr Abdelatty told reporters, “Connectivity is very important as part of a final settlement of the Palestinian cause.”
According to him, he spoke with his Indian counterpart about the IMEC and mentioned that Egypt was amenable to participating in the initiative.
The corridor will connect India with the United Arab Emirates, Saudi Arabia, and Jordan and Israel before reaching Europe via the Arabian Sea. A project framework agreement was reached last year between India and the United Arab Emirates.
“The IMEC is an important project but we have to understand that what happened over the last two years is that if you have escalation, that could hinder the cooperation, the connectivity,” Abdelatty stated to reporters.
According to him, Egypt has lost over $9 billion since the Iran-aligned military organization Houthis began attacking ships in the Red Sea. The group claims that its actions were carried out in support of the Palestinians.
Saying, “We are paying a heavy price,” At least seventy-five ships used to pass the Suez Canal each day. Now that 25 is the maximum of 50, it fell by at least 60%.
Arriving in India on Thursday, Abdelatty met Prime Minister Narendra Modi as part of a two-day bilateral visit. In an effort to encourage more Indian investments, he stated that he will meet with executives of Indian companies.
“In this area, we have a designated industrial zone for China and Russia. He added, “We are also supporting the establishment of an Indian industrial zone next to the Suez Canal Economic Zone.
