LONDON, Oct 10 (Reuters Breakingviews) - A new and deadly chapter of the decades-old Israel-Palestinian conflict is a reality check for an ambitious trade route.
IMEC’s chief backers waxed lyrical about the potential of the trade route involving railways, ports and green energy.
Demand is there: India's total trade with Saudi Arabia more than doubled in two years, hitting around $53 billion in financial year 2023.
In the near-term, the Suez Canal will remain the primary route for goods travelling to Europe from India, while Turkey can press its own rival trade route.
The Biden administration is continuing to push for normalisation talks between Saudi Arabia and Israel, the New York Times reported on Oct. 8.
Persons:
Joe Biden, Ursula von der Leyen, Narendra Modi, India’s, Saudi Crown Prince Mohammed bin Salman, Benjamin Netanyahu, Biden, Una Galani, Thomas Shum
Organizations:
Reuters, Washington, European, Indian, New, Saudi Crown, Israeli, New York Times, Thomson
Locations:
Israel, India, Middle, Europe, New Delhi, Saudi Arabia, Haifa, Gaza, China, People’s Republic, Suez, Turkey, United States, European Union, France, Germany, Delhi, Arabian, Asia