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G-7 nations pledge support to specific infrastructure projects like India-Middle East-Europe Economic Corridor

First Published: 16th June, 2024 8:30 IST

The G7 aims to enhance economic corridors for better infrastructure and investments

The Group of Seven (G7) nations have pledged support to specific infrastructure projects like the India-Middle East-Europe Economic Corridor (IMEC) in their joint statement released after the end of their three-day summit in Italy.
The G7 aims to enhance economic corridors for better infrastructure and investments. Key projects include coordinating and financing efforts for corridors like the Lobito, Luzon, Middle, and India-Middle East-Europe.

They also plan to build upon existing initiatives like the EU Global Gateway, the Great Green Wall, and Italy‘s Mattei Plan for Africa.
“We will further promote concrete G7 PGII initiatives, flagship projects, and complementary initiatives to develop transformative economic corridors for quality infrastructure and investment, such as the deepening of our coordination and financing for the Lobito Corridor, the Luzon Corridor, the Middle Corridor, and the India-Middle East-Europe Economic Corridor, also building on the EU Global Gateway, the Great Green Wall Initiative, and, the Mattei Plan for Africa launched by Italy,” White House said in a official statement.
The G7 Summit leaders on Friday reaffirmed their dedication to a free and open Indo-Pacific governed by international law.
“We reiterate our commitment to a free and open Indo-Pacific, based on the rule of law, which is inclusive, prosperous, and secure, grounded on sovereignty, territorial integrity, peaceful resolution of disputes, fundamental freedoms, and human rights,” the White House said in a statement.
The summit statement stressed that the G7 was not trying to harm China or thwart its economic development but would continue to take actions to protect the businesses from unfair practices, to level the playing field and remedy ongoing harm.
“We seek constructive and stable relations with China and recognize the importance of direct and candid engagement to express concerns and manage differences. We act in our national interest. Given China’s role in the international community, cooperation is necessary to address global challenges, and we continue to engage in areas of common interest,” the statement said.
“We call on China to step up efforts to promote international peace and security, and to work with us to tackle the climate, biodiversity, and pollution crises, combat illicit synthetic drug trafficking, ensure global macroeconomic stability, support global health security, and address vulnerable countries’ debt sustainability and financing needs,” the statement added.
The summit had participation from the seven member countries, the US, UK, Canada, Germany, Italy, Japan, and France, as well as the European Union. Italian Prime Minister Giorgia Meloni had invited India as an ‘Outreach Country’ at the G7 summit held in Italy‘s Apulia region from July 13-15.
PM Modi addressed the G7 Outreach Session on AI and Energy, Africa, and the Mediterranean, touching upon various subjects, including the transformative role of technology in human progress.
On the sidelines of the G7 Summit, PM Modi held bilateral meetings with French President Emmanuel Macron, UK PM Rishi Sunak, Japanese PM Fumio Kishida, Italian PM Giorgia Meloni and Ukraine President Volodymyr Zelenskyy. He also interacted with US President Joe Biden, German Chancellor Olaf Scholz, Canadian PM Justin Trudeau and Pope Francis. (ANI)

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