The ongoing Israel-Hamas battle might result in delays and issues within the India Middle East Europe Economic Corridor mission, in line with suppose tank Global Trade Research Initiative (GTRI).

It stated whereas the battle’s fast penalties are confined to Israel and Gaza, its ripple results all through the Middle East can’t be underestimated.

Israel-Hamas War LIVE Updates

GTRI stated the battle may derail the prospect of a historic peace deal between Israel and Saudi Arabia, an important linchpin within the India Middle East Europe Economic Corridor (IMEEC) framework.

Although Saudi Arabia and Israel have traditionally maintained no formal diplomatic ties, current years have witnessed indicators of a thaw, with negotiations underway for normalisation, GTRI Co-Founder Ajay Srivastava stated, including that the warfare might derail any progress made.

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“The ongoing Israel-Hamas conflict may disrupt the project’s timelines and outcomes, marking a pivotal juncture in the development of this ambitious economic corridor. While the war’s direct impact remains regional, the geopolitical consequences reverberate far beyond, with potential consequences for the proposed corridor,” he added.

IMEEC, a proposed financial hall, goals to spice up financial growth by fostering connectivity and financial integration between Asia, the Persian Gulf, and Europe.

The envisioned hall would span from India to Europe, passing via the UAE, Saudi Arabia, Jordan, Israel, and Greece.

The Memorandum of Understanding (MoU) for this was signed throughout the G20 summit in New Delhi final month, with participation from governments resembling India, the US, the UAE, Saudi Arabia, France, Germany, Italy, and the European Union.

The mission’s key aim is to reinforce transportation and communication hyperlinks between Europe and Asia, and it’s usually considered because the response to China’s Belt and Road Initiative.

Srivastava added that the disruption within the Middle East, a significant hyperlink on this hall, might result in delays and issues within the mission’s execution.

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