While Türkiye has announced the project cannot happen without its cooperation, experts also warn the new Western-led project could entail a number of logistical issues and comes amid escalating tensions between the US and China..
On September 9, amid the G20 leaders' summit hosted in India, the US, Saudi Arabia, the United Arab Emirates , France, Germany, Italy, and the EU signed a Memorandum of Understanding to construct an economic rail and shipping corridor linking Europe, the Middle East and India.
Ali Bakir, Professor of international affairs at Qatar University and senior associate with Ibn Khaldon Center, contends"the initiative lacks substantive economic drivers, which prompts some nations to perceive it more as a political or ideological venture.” Amid established routes like the Suez Canal, Bakir perceives the IMEC would appear to intersect and possibly undercut them, calling it"counterproductive, potentially fragmenting the regional economies rather than fostering cohesion."
Bakir suggests Türkiye’s omission, as a pivotal non-oil economy in the Middle East “raises eyebrows.”"When we look at the project that started in India and was recently signed at the G20, experts have doubts about its primary purpose, rationality and efficiency, ” said Fidan, outlining potential “geostrategic concerns.”
Beyond potentially strengthening global supply chains, Gill holds that the IMEC's objective is to"serve as a more concrete and transparent alternative to the China-led Belt and Road Initiative ,” amid challenges ranging from debt sustainability issues, project cancellations, to the changing perception of Chinese businesses towards the BRI.
He suggests it is fostering “uncertainties towards the maintenance of the international rules-based order, particularly in the realm of transparent and equitable economic cooperation”.Gill argues from a US-perspective that China’s “expanding economic clout” in the MENA is a cause of concern regarding its status as a traditional partner in the region.Premier Li Qiang held a brief conversation with US President Biden.
“In a globalised order, however, the clash between US and Chinese spheres of influence happens through international regimes, regulations, and procurement,” says Leoni, referencing the case of AUKUS - a trilateral security pact between the US, UK and Australia, adding, “Others talk of weaponized interdependence.
On the sidelines of the G-20 summit, US President Joe Biden said the corridor would deepen energy trade and energy exports, butthe world stands at “an inflection point in history” regarding how decisions taken today “affect the course of our future.” Leoni views similarities to other Western-led initiatives, arguing the PGII is among a number of initiatives with a"similar logic."
its decision under the right-wing government of Premier Giorgia Meloni, quitting the BRI and pushing for a strategic partnership with China that was first signed back in 2004.as an"attractive international public good. More than 150 countries have already joined the BRI, which has brought tangible benefits to the people of participating countries. It’s in the interest of all BRI partners to further unleash its potential for cooperation.
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