We are more than happy to collaborate with India on IMEC project: Israel

Israel on Tuesday expressed keenness to collaborate with India on the India-Middle East Europe Economic Corridor (IMEC) and said a team is working on an element of the project.

Billed as a path-breaking initiative, the IMEC envisages a vast road, railroad and shipping networks among Saudi Arabia, India, the US, and Europe to ensure integration among Asia, Middle East, and West.

The IMEC initiative was firmed up on the sidelines of the G20 Summit in Delhi in September 2023.

An agreement was signed by India, Saudi Arabia, the European Union, the United Arab Emirates (UAE), the US and some other G20 partners for the corridor.

"We are more than happy to collaborate on IMEC which is actually connecting India and Asia to Europe via Saudi Arabia, Jordan and Israel," Israeli Minister of Economy and Industry Nir M Barkat told reporters here.

He was addressing the media after co-chairing India-Israel CEO Forum meet with Commerce and Industry Minister Piyush Goyal.

Barkat is leading a big business delegation here.

"I am sure that this is something that makes a lot of sense to provide the connectivity... We have a team in Israel starting the work on the elements from... Haifa and planning it as part of the bigger value chain, the supply chain and concept... I think each country separately is now preparing its part. We certainly are. It creates huge opportunities internally in Israel," he added.