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In response to a similar Chinese initiative, France is preparing for the first conference to discuss an infrastructure link connecting India to Europe via the Middle East. President Emmanuel Macron appointed Gerard Mestrallet, the former CEO of French energy giant Engie SA, as his envoy to lay the groundwork for the initiative. The IMEC concept proposes establishing a network of railroads, ships, gas pipelines, and internet connections.
In an interview with Bloomberg, Mestrallet stated, "I'd like to convene the representatives of other IMEC member states in a gathering in the next two months," but he added that it was too soon to specify the location or format of the conference.
The plan, initially announced on the sidelines of the Group of 20 summit in New Delhi last year, could need a decade or more to materialize, according to Mestrallet. It took shape after Russia invaded Ukraine but suffered a major setback after the start of the Israel-Hamas war, which has stoked tensions in the Middle East. That conflict has spilled over into the Red Sea shipping lanes, highlighting the need for alternative, secure trade routes.
The India-Middle East-Europe Economic Corridor members include the US, India, Saudi Arabia, the United Arab Emirates and the European Union. It’s unclear yet who would represent other countries during the meeting, as France is the only participant named a sherpa for the talks.
Shipping giant CMA-CGM, energy behemoth TotalEnergies SA, train builder Alstom SA, logistics company Getlink SE, state-owned Electricite de France SA, industrial gas specialist Air Liquide SA and cable-builder Nexans SA could be involved in building some of the energy and logistics projects, along with construction companies such as Vinci SA and Bouygues SA.
China has for years promoted its Belt and Road Initiative, an ambitious project launched more than a decade ago to connect Asia, Africa and Europe through a network of railroads and trade deals, with the goal of cementing Beijing’s influence. The EU last year announced its plan, named the Global Gateway, to develop infrastructure and connectivity in emerging countries.
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