Join 150K Subscribers

Weekly insights & expert articles on supply chain, shipping, and international trade.
Last week another, 812 people joined our community

Your Global Trade Knowledgebase

Guides, How-to’s, Downloads and Resources to help you
succeed in Global Trade.
Home » Global Trade News » The West’s Answer to China’s Belt Road Comes to a Halt With Hamas-Israel Conflict
Last updated on October 12, 2023 by Ben Thompson

The West’s Answer to China’s Belt Road Comes to a Halt With Hamas-Israel Conflict

The West’s Answer to China’s Belt Road Comes to a Halt With Hamas-Israel Conflict

In the ever-evolving landscape of global trade, new corridors emerge, promising to reshape the dynamics of international commerce. One such ambitious venture is the India-Middle East-Europe Economic Corridor (IMEC). Recently championed at the G20 summit in New Delhi, the IMEC is viewed as the West’s answer to China’s Belt and Road initiative. With the potential to revolutionize trade routes involving railways, ports, and green energy, the IMEC has garnered significant attention and support from world leaders. See video of IMEC details here.

U.S. President Joe Biden, European Commission President Ursula von der Leyen, and Indian Prime Minister Narendra Modi have all lauded the IMEC’s potential. Their collective vision paints a picture of a corridor that could potentially reduce shipping times by a staggering 40%. This is not just a theoretical projection; trade statistics underscore the IMEC’s promise. For instance, India’s trade relationship with Saudi Arabia has flourished, more than doubling in just two years to an impressive $53 billion in 2023.

However, the path to realizing the IMEC’s full potential is fraught with challenges. Central to the IMEC’s success is the establishment of a reliable trade link between Saudi Arabia and Israel. This weeks conflict with Hamas attacking Israel has all but put the development within the region on pause. The geopolitical tensions make it increasingly complex for key players, like Saudi Crown Prince Mohammed bin Salman, to forge diplomatic ties with Israel.

In these turbulent times, traditional trade routes like the Suez Canal remain vital. Yet, the vision of the IMEC, a corridor bridging India, the Middle East, and Europe, remains a beacon of hope for the future of global trade.

Keep Learning

Download Global Trade Guide

Enter your email to get your FREE guide and weekly trade insights. Unsubscribe anytime.

Download Incoterms® 2020 Guide

Enter your email to get your FREE guide and weekly trade insights. Unsubscribe anytime.

Download Global Trade Guide

Enter your email to get your FREE guide and weekly trade insights. Unsubscribe anytime.

Weekly Insights. ZERO spam
Global Trade Guide

By downloading this content you agree to receive our weekly Global Trade Email Newsletter to help grow your business.

Get Smarter About Global Trade
Join 150K+ subscribers to receive our free weekly 5 minute newsletter on what's happening in the world of Global Trade.
Glossary of Shipping Terms

By downloading this content you agree to receive our weekly Global Trade Email Newsletter to help grow your business.

The West’s Answer to China’s Belt Road Comes to a Halt With Hamas-Israel Conflict

By downloading this content you agree to receive our weekly Global Trade Email Newsletter to help grow your business.

Export Manager's Guide to Remote Working

By downloading this content you agree to receive our weekly Global Trade Email Newsletter to help grow your business.

Download a Proforma Invoice Template PDF

By downloading this content you agree to receive our weekly Global Trade Email Newsletter to help grow your business.

 

Unit Load Device ULD Air Container Specifications

By downloading this content you agree to receive our weekly Global Trade Email Newsletter to help grow your business.