Prime Minister Narendra Modi and President Pedro Sanchez recently met to reaffirm their commitment to strengthening the India-EU Strategic Partnership. A key focus of this partnership is the India-Middle East-Europe Economic Corridor Project (IMEEC), which aims to boost connectivity between India and Europe. President Sanchez’s visit to India on October 28-29 marked the first visit by a President of the Government of Spain in 18 years. Accompanied by high-level officials and a business delegation, the leaders discussed enhancing collaboration in trade, investment, technology, energy, logistics, and infrastructure development.
During the New Delhi G20 Summit in September 2023, India, the US, UAE, Saudi Arabia, France, Germany, Italy, and the European Union signed a Memorandum of Understanding to establish the India-Middle East-Europe Economic Corridor. This project includes an Eastern Corridor connecting India to the Gulf region and a Northern Corridor linking the Gulf region to Europe. The recent meeting between PM Modi and President Sanchez has renewed the bilateral relationship between India and Spain, injecting it with new energy and potential for enhanced cooperation across various sectors. Both leaders expressed satisfaction with the progress of bilateral relations since PM Modi’s visit to Spain in 2017.
PM Modi and President Sanchez instructed their teams to continue upgrading the bilateral agenda and forging cooperation in political, economic, security, defence, people-to-people, and cultural aspects. They also discussed advancing the EU-India triple negotiations, comprising a comprehensive Free Trade Agreement, Investment Protection Agreement, and Geographical Indications Agreement. Moreover, they agreed to enhance collaboration to fully realize the objectives of the EU-India Connectivity Partnership. The leaders explored avenues for cooperation among regional countries, emphasizing trade, investment, technology, energy, logistics, ports, and infrastructure development.
The visit by President Sanchez to India marked an important step in strengthening the India-EU Strategic Partnership and deepening ties between the two countries. The leaders emphasized the potential of the IMEEC to boost connectivity between India and Europe, thereby enhancing economic cooperation and regional connectivity. By renewing the bilateral relationship and setting the stage for enhanced cooperation across various sectors, PM Modi and President Sanchez have paved the way for a new era of collaboration between India and Spain. Their commitment to strengthening the bilateral agenda and advancing cooperation in political, economic, security, and cultural dimensions reflects the shared vision of both countries.
The India-Middle East-Europe Economic Corridor Project holds significant promise for boosting trade and connectivity between India, the Gulf region, and Europe. The Eastern and Northern corridors connecting these regions have the potential to facilitate smoother trade and investment flows, enhance technological cooperation, and improve infrastructure development. The successful implementation of the IMEEC could lead to increased economic growth, job creation, and opportunities for businesses in the participating countries. By exploring avenues for cooperation in areas like energy, logistics, and ports, India and Spain can work together to maximize the potential of this project and strengthen regional ties.
Overall, the recent meeting between PM Modi and President Sanchez underscores the importance of the India-EU Strategic Partnership and the potential of the India-Middle East-Europe Economic Corridor Project in deepening regional cooperation. As both countries seek to enhance connectivity, boost economic growth, and foster greater collaboration across various sectors, their commitment to strengthening bilateral relations and advancing the shared vision of the EU-India Connectivity Partnership is commendable. With a renewed focus on cooperation and mutual understanding, India and Spain are well-positioned to capitalize on the opportunities presented by the IMEEC and pave the way for a more prosperous and interconnected future.
