MENA2050 Proposes Governance Framework for India-Middle East-Europe Economic Corridor (IMEC)
MENA2050 has released a comprehensive policy paper detailing a proposed governance framework for the India-Middle East-Europe Economic Corridor (IMEC). The paper outlines a model Framework Agreement for establishing the IMEC Organization, designed to manage the corridor's development, operation, financing, security, resilience, and enlargement. This framework addresses the inter-regional scope of IMEC, its segment-based structure, and the participation of regional economic integration organizations like the European Union. Key elements include the establishment of an IMEC Summit for strategic direction, a Council of Ministers for policy determination, an Executive Committee for implementation, and a Permanent Secretariat for administrative functions. The proposal also includes provisions for a Business Council and a Civil Society Council to ensure stakeholder engagement, and outlines mechanisms for trade and transit facilitation, technical standards harmonization, digital and data governance, and safety an...