Daijiworld Media Network - Jerusalem

Jerusalem, Aug 11: Amid rising threats to global shipping, a new report highlights the India–Middle East–Europe Economic Corridor (IMEC) as a key strategic alternative to China's Belt and Road Initiative (BRI). Announced at the 2023 G20 Summit, IMEC is a comprehensive plan to redefine trade, energy, and data flows between Asia and Europe.

According to a report in The Jerusalem Post, the IMEC project could be transformative for Israel, positioning it as a critical link between Asia and Europe. The report, which includes an opinion piece by Lauren Dagan Amos of Forum Dvorah, suggests Israel must become more than just a transit point. It must be an active regional contributor in defense and technology.

The initiative presents both an opportunity and a complex set of security challenges for Israel. The country's central location makes it an important "Western anchor" for the corridor, with strategic assets like the Port of Haifa and the Valley Railway playing key roles. This position, however, also exposes Israel to security threats from both state and non-state actors.

IMEC's promise includes a 40% reduction in transit time and lower transportation costs. However, the current regional instability poses a significant risk to investment. The conflict in Gaza, threats from Hezbollah, and Houthi attacks in the Red Sea have created major security concerns. These attacks have forced shipping companies to reroute, adding a week to transit times and significantly increasing costs and insurance premiums.

The Port of Haifa, which is meant to be the western terminus of the corridor, is particularly vulnerable to threats from Hezbollah, leading many shipping firms to seek alternative routes. Additionally, the IMEC initiative faces regional opposition from countries like Turkey, which views it as a rival and is promoting its own corridor through Iraq, and Egypt, which fears a reduction in revenue from the Suez Canal.

The report concludes that to successfully navigate this complex environment, Israel must develop a comprehensive security framework and work closely with strategic partners like India and Saudi Arabia to protect critical infrastructure.