The G7: Committed to Building a Brighter Future with the India-Middle East-Europe Economic Corridor

The G7 summit, hosted in Italy's stunning Apulia region, witnessed the gathering of leaders from the seven member countries: the US, UK, Canada, Germany, Italy, Japan, and France. Italian Prime Minister Giorgia Meloni extended a special invitation to India as an 'Outreach Country', enriching the dialogue and diversity of perspectives at this prestigious event, which took place from July 13-15.

G7 summit (Photo/X@G7Italy). Image Credit: ANI

The Group of Seven (G7) nations have united to support specific infrastructure initiatives, notably the India-Middle East-Europe Economic Corridor (IMEC), as outlined in their joint statement released after their three-day summit in Italy. The G7 aims to strengthen economic corridors to foster better infrastructure development and attract investments. Key projects include the Lobito, Luzon, Middle, and India-Middle East corridors, with a focus on coordination and financing.

In alignment with existing programs, the G7 intends to build upon initiatives such as the EU Global Gateway, the Great Green Wall, and Italy’s Mattei Plan for Africa. As stated by the White House in an official announcement, “We will further promote concrete G7 PGII initiatives, flagship projects, and complementary initiatives to develop transformative economic corridors for quality infrastructure and investment.”

The G7 Summit leaders reaffirmed their commitment to a free and open Indo-Pacific region, governed by international law and based on inclusivity, prosperity, and security. This includes respect for sovereignty, territorial integrity, peaceful resolution of disputes, fundamental freedoms, and human rights.

While the G7 does not aim to hinder China’s economic growth, the summit statement emphasized continued actions to protect businesses from unfair practices, create a level playing field, and address ongoing harm. The statement also acknowledged the importance of direct engagement with China to express concerns and manage differences, recognizing the need for cooperation on global challenges and engagement in areas of common interest.

The G7 called on China to increase its efforts in promoting international peace and security and to collaborate on addressing global crises related to climate, biodiversity, pollution, illicit synthetic drug trafficking, global macroeconomic stability, and global health security. The summit witnessed the participation of the seven member countries (US, UK, Canada, Germany, Italy, Japan, and France), the European Union, and India, invited as an ‘Outreach Country’ by Italian Prime Minister Giorgia Meloni.

During the G7 Outreach Session, PM Modi spoke about the transformative role of technology in human progress, covering topics like AI and energy, as well as the situations in Africa and the Mediterranean. On the sidelines of the summit, PM Modi held bilateral meetings with several world leaders, including French President Emmanuel Macron, UK PM Rishi Sunak, and Japanese PM Fumio Kishida. He also interacted with US President Joe Biden, German Chancellor Olaf Scholz, Canadian PM Justin Trudeau, and Pope Francis.

Tarah Nguyen

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