Strengthening Italy’s role in IMEC. Italy is taking decisive steps to enhance its position in the India-Middle East-Europe Economic Corridor (IMEC), a major infrastructure initiative aimed at boosting connectivity between Europe, Asia, and the Middle East.
- According to documents reviewed by Decode39, the government is preparing to appoint a Special Envoy to oversee and advance its interests within this strategic project, which could reshape global trade routes and regional stability.
- During a recent Question Time in Parliament, MP Paolo Formentini (Lega) pressed for updates on Italy’s plan to appoint a special envoy for IMEC.
- In response, the Ministry of Foreign Affairs stressed that the corridor aligns with Italy’s broader objective of reaching €700 billion in exports by the end of the current legislative term.
Process underway. The Ministry confirmed that the appointment process is underway and is seeking a candidate with the right profile and expertise.
- Italy is also preparing economic missions to key markets, including India, Vietnam, Mexico, and Gulf nations.
- IMEC fits within EU and G7 initiatives like the Global Gateway and the Partnership for Global Infrastructure and Investment.
While Italy accelerates… its engagement with IMEC, other European nations are encountering hurdles:
- France is actively engaged in the initiative, with its Special Envoy Gérard Mestrallet spearheading it.
- India has welcomed this approach, and discussions at the upcoming AI Summit could further cement cooperation, including a Marseille-Mumbai connectivity project.
- Greek is keen to position the Port of Piraeus as a central hub for IMEC.
- However, the port’s ownership by China’s COSCO and infrastructure security issues along the Balkan route pose significant obstacles.
Trieste, Italy’s IMEC gateway. The Port of Trieste is emerging as Italy’s key hub for IMEC.
- It boasts strong cargo-handling capabilities and direct integration into the Central European supply chain.
- Its strategic location connects the Indo-Mediterranean corridor with Eastern European initiatives such as the Three Seas Initiative.
- This dual connectivity strengthens Italy’s positioning within regional and global trade networks.
Regional and strategic implications. Beyond Italy’s ambitions, IMEC has the potential to foster Middle Eastern stability by supporting economic development and facilitating renewed dialogue linked to the Abraham Accords.
- Infrastructure investments under the initiative are designed to encourage sustainable trade without burdening participating countries with excessive debt.
- “We have initiated the necessary steps to define the profile and competencies for a special envoy,” stated the Ministry of Foreign Affairs, reinforcing Italy’s commitment to leadership in this transformative initiative.
