Egypt’s foreign minister, Badr Abdelatty, stated that finding a solution to the Palestinian issue is crucial for the success of the India-Middle East Economic Corridor (IMEC) project. This project, which connects India to Europe through the Middle East by sea and rail, was introduced in September 2023 as an alternative to China’s Belt and Road Initiative. However, it faced challenges following the conflict that began after Hamas attacked Israel on October 7, 2023.
During his visit to New Delhi, Abdelatty discussed the IMEC with Indian officials and expressed Egypt’s willingness to participate in the project. The corridor plans to run from India across the Arabian Sea to the UAE and then through Saudi Arabia, Jordan, and Israel to Europe. He emphasized that ongoing escalations could disrupt cooperation and connectivity.
Furthermore, Abdelatty highlighted the economic impact on Egypt due to conflict, stating that the country has suffered over $9 billion in losses since Houthi attacks on ships in the Red Sea began, leading to a significant drop in traffic through the Suez Canal. He also mentioned his discussions with Prime Minister Modi about attracting Indian investments and the establishment of an Indian industrial zone near the Suez Canal Economic Zone.