Rome, Sep 30 (IANS) Top Italian senators and experts on Tuesday discussed the growing significance of the India-Middle East-Europe Economic Corridor (IMEC) and how Italy can leverage its position in the Mediterranean from other India-related trade corridors.
The event, titled ‘The Indo-Mediterranean Corridor: The Role of Italian Ports for IMEC and India’s Trade Corridors’, was held at San Salvatore in Lauro Complex in Rome and saw the participation of institutional representatives, diplomats, and operators from the maritime sector.
It is a continuation of the Indo-Mediterranean initiative launched by Vas Shenoy, the Chief Representative for Italy of the Indian Chamber of Commerce.
The debate featured contributions from Senator Giulio Terzi di Sant’Agata, Senator Matteo Gelmetti, Vice-President of the Foreign Affairs Committee of the Chamber of Deputies Paolo Formentini, Italian Ambassador and Special Envoy for IMEC Francesco Maria Talo, President of Assarmatori Stefano Messina, and Sanjay Pulipaka, Chairman of the Politea Research Foundation in Hyderabad. The panel was moderated by Giorgio Rutelli, Deputy Director of ADNKronos.
“IMEC is an element we must place our trust in,” declared Senator Terzi, while Gelmetti stressed that “India has very specific characteristics that make it a reliable and strategic partner.” Talo recalled that “no Mediterranean country has as many international ports as Italy”, while Messina underlined that “for the Blue Economy, IMEC is one of the key pieces”.
During the discussions, Formentini emphasised the need for a “collective commitment” to keep global trade free and Pulipaka concluded that “corridors are relationships”, with political and human value as well as commercial significance.
The event took place on the eve of the entry into force of the India-European Free Trade Association (EFTA) Trade and Economic Partnership Agreement (TEPA), which from October 1 provides for $100 billion in investments in India over the next 15 years, in exchange for tariff reductions on about 98 per cent of products.
Switzerland, the largest economy and most populous country in EFTA, borders Italy and requires dedicated ports for its connections with India.
The IMEC, announced during the G20 Summit in New Delhi in 2023 with the participation of Prime Minister Giorgia Meloni, remains at the center of discussions on global infrastructure. Trieste stands out as the natural port for the initiative, connected to the industrial heart of Italy and Europe.
The panel’s goal was not only to discuss Trieste and IMEC, but also to open a broader dialogue on how Italy can leverage its position in the Mediterranean and benefit from other India-related trade corridors, such as the EFTA and TEPA.
“India’s trade routes require strong partners with common values. The Italy-India relationship is not only for IMEC but can be a fundamental partnership for both countries and the entire Indo-Mediterranean for sustainable trade,” concluded Shenoy.
–IANS
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