During the G-20 summit, the EU and seven countries green-lighted an economic corridor linking Europe with the Middle East and India via rail and shipping lines, facilitating trade relations between Asia, the Persian Gulf countries, and Europe. "Pursuant to this Memorandum of Understanding, the Governments of the Kingdom of Saudi Arabia, the European Union, the Republic of India, the United Arab Emirates (UAE), the French Republic, the Federal Republic of Germany, the Italian Republic, and the United States of America commit to work together to establish the India – Middle East – Europe Economic Corridor (IMEC)," the Memorandum of Understanding reads. The participants note that the IMEC’s railway route, upon completion, will provide "a reliable and cost-effective cross-border ship-to-rail transit network." History shows that trade routes have always stimulated the development of the regions through which they pass. The IMEC participants intend that the corridor will increase efficiencies, reduce costs, enhance economic unity, and generate jobs, according to the official statement. "The IMEC will be comprised of two separate corridors, the east corridor connecting India to the Arabian Gulf and the northern corridor connecting the Arabian Gulf to Europe," the document states.
