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Orange Jordan, EU Honor Graduates of Innovation Programs

Orange Jordan implemented the free programs in Aqaba, in cooperation with its partners, particularly the Aqaba Special Economic Zone Authority…reports Asian Lite News

Orange Jordan and the European Union celebrated the graduation of “heroes of change”, the youth who completed their journey in the FabLab and Coding Academy in Aqaba, in a ceremony held under the patronage of the Minister of Digital Economy and Entrepreneurship, Ahmad Hanandeh, under the Innovation Space, a three-year project co-funded by the European Union’s “Innovation for Enterprise Growth and Jobs” program “Innovate Jordan”, to support entrepreneurship and empower youth digitally across the Kingdom.

The graduation was attended by Ramzi Al-Kabariti, Commissioner of Youth and Entrepreneurship, deputizing for Nayef Al Fayez, Aqaba Special Economic Zone Authority Chief Commissioner, member of parliament Obeid Yassin, Sultan Hassan, deputizing for Dr. Khaled Alhajjaj, Governor of Aqaba, CEO of Orange Jordan, Philippe Mansour, and several of the company’s executive officers.

During the ceremony, the FabLab celebrated a milestone by graduating 173 young males and females, after they developed their prototypes using digital manufacturing equipment and devices, including 3D design, 3D printing, laser cutting, computer numerical control (CNC), printed circuits board (PCB), coding and electronics.

Alongside the FabLab, the Coding Academy also celebrated the graduation of two cohorts in Aqaba with a total of 50 students, with females exceeding 50%, after completing a 6-month intensive training in highly in-demand programming languages, professional and personal skills and more, followed by a 1-month internship in an IT company, extending the success of the Academy which achieved a remarkable employment rate of 80% among its graduates in governorates.

Both the FabLab and Coding Academy were expanded by Orange Jordan to provide digital resources and knowledge to youth in various governorates, especially those with high young population such as Aqaba, to enable them for the job market and starting their own ventures, as well as guiding them on their entrepreneurship journey.

Orange Jordan implemented the free programs in Aqaba, in cooperation with its partners, particularly the Aqaba Special Economic Zone Authority, which was keen to support these programs due to their immense role in empowering the governorate’s youth with essential professional and digital skills.

The CEO of Orange Jordan, Philippe Mansour, congratulated the graduates, stating: “I am very happy to be here in Aqaba to support the governorate’s youth and recognize their accomplishments and efforts in the FabLab and Coding Academy to be ready for the job market and launch tech-based projects that can attract investments”.

Speaking about the importance of Orange Jordan’s digital and entrepreneurial programs, Mansour added: “As a responsible digital leader, Orange has long been keen to expand the scope of its programs in line with market needs to provide the in-demand skillset and knowledge necessary for Aqaba’s youth and the growth of the Kingdom’s digital economy and innovation culture. I would like to thank the European Union and all of our partners for their role in these programs and for believing in their impact in Aqaba, the commercial and tourist hub that drives the Jordanian economy forward”.

To learn more, you can visit our website: www.orange.jo/en

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EU President pledges action to help Italian island amid surging migrants

The Italian Coast Guard found the baby, saying that it was born during the journey and was found during a rescue operation…reports Asian Lite News

Amid the rising number of migrants in Lampedusa, EU President Ursula von der Leyen pledged action to help Italy’s crisis-hit island during her visit on Sunday, CNN reported.

Von der Leyen visited a migrant reception centre on the island after the Italian Prime Minister urged the European leader to extend help to the island.

The EU president’s visit came after Mayor Filippo Mannino warned on Thursday about Lampedusa’s migrant crisis saying that it had reached a “point of no return”.

At least 130,000 migrants have arrived on the shores of Italy this year, which is almost double as compared to the previous year, CNN reported.

Addressing a press conference along with Italian PM Georgia Meloni, Von Der Leyen said, “We will decide who comes to the European Union and under what circumstances, and not the smugglers and traffickers.”

Meanwhile, Meloni and the EU Chief met on Sunday to “offer a coordinated response by the Italian and European authorities” Von Der Leyen informed.

“We have an obligation as part of the international community. We have fulfilled it in the past and we will do so today and in the future,” she added.

The EU president stressed that migration is a European challenge.

“Migration is a European challenge and it needs a European answer and solution,” she said.

Meloni said the “problem” of migrants crossing the Mediterranean to Europe cannot be solved by redistributing migrants within European borders but rather requires tackling the problem externally and preventing the departure of migrants, according to CNN.

Von Der Leyen promoted legal pathways and humanitarian corridors as measures to counter “smugglers’ lies.”

“We will offer migrants real alternatives through this humanitarian admission. This is very important to break the vicious narrative of the smugglers,” she added.

Earlier, on Saturday, a newborn baby was found dead on a boat carrying people to Lampedusa even as dozens of the island’s citizens protested over a surge in arrivals, Al Jazeera reported citing ANSA news agency.

The Italian Coast Guard found the baby, saying that it was born during the journey and was found during a rescue operation.

According to Al Jazeera, Lampedusa has seen thousands of landings this week alone, more than the island’s permanent population. The situation has further triggered appeals for help from local politicians.

The recent surge in arrivals has reignited the debate over how Europe shares responsibility for asylum seekers. (ANI)

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EU tourism at decade high in first half of 2023

All months surpassed the previous year’s figures, with the highest increase recorded in January (45 per cent) and February (27 per cent)…reports Asian Lite News

The EU tourism industry is experiencing a strong recovery from the impact of the COVID-19 pandemic. In the first half of 2023, the number of nights spent in tourist accommodations reached its highest level in the past decade, signalling a notable resurgence in the industry’s performance in many countries, according to Eurostat, the statistical office of the European Union.

In the first half of this year, there were 1,193 million nights spent in tourist accommodations, marking an increase of nearly 11 million compared to the same period in 2019 (1182 million, +0.9 per cent). Additionally, there were 136 million more overnight stays than in the first half of 2022 (1057 million, +12.9 per cent). In comparison to 2021 (406.8 million), this year recorded 786 million more overnight stays, and compared to 2020 (474.7 million), 718 million more overnight stays were recorded.

All months surpassed the previous year’s figures, with the highest increase recorded in January (45 per cent) and February (27 per cent).

Looking at the country data, all member states have seen an increase in overnight stays compared to 2022, with Hungary being the sole exception, experiencing a slight decrease of -0.3 per cent. Cyprus (39.3 per cent), Malta (30.5 per cent), and Slovakia (28.7 per cent) stand out with the most substantial increases in overnight stays. However, about half of the countries have yet to reach the figures recorded in the first half of 2019. Notably, Latvia (-23.8 per cent), Slovakia (-16.0 per cent), Hungary (-12.2 per cent), and Lithuania (-11.7 per cent) are still to get close to 2019 figures.

A strong boost to this year’s numbers came from the recovery of international tourism. In comparison with 2022, there was a 22.5 per cent increase in the number of nights spent by foreign tourists, while domestic tourism saw a 5.8 per cent increase.

In total, foreign tourists accounted for 545 million nights in the first half of 2023 or 46 per cent of all overnight stays. In recent years, the proportion of foreign tourists has been significantly impacted by the pandemic. Starting at 47 per cent in the first half of 2019, it dropped to 36 per cent in the first half of 2020, and further decreased to 21 per cent in 2021, before demonstrating a strong rebound in 2022, climbing to 42 per cent. (ANI/WAM)

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EU envoy terms India stint as momentous

European Union Ambassador to India, Ugo Astuto

Astuto lauded India’s G20 presidency and also termed the launch of the India-Middle East-Europe Economic Corridor as a “very significant step”…reports Asian Lite News

Ugo Astuto, who served for four years as the European Union’s (EU) Ambassador to India, termed his stint as “momentous in terms of change” while adding that India’s strategic partnership with EU is “gaining strength by the day”.

Astuto’s remarks came in the wake of his tenure as EU delegation’s Ambassador to India coming to an end.

Astuto lauded India’s G20 presidency and also termed the launch of the India-Middle East-Europe Economic Corridor as a “very significant step”.

Sharing his experience during his stint as an ambassador to India, Astuto said, “Well, I’ve been very lucky because these four years have been momentous in terms of change. Our strategic partnership with India has definitely grown and is gaining strength by the day.”

“So what I see is a clear determination from both sides to make this strategic partnership reach new heights,” he added.

When asked about the changes he witnessed in India-EU strategic relations during his tenure, Astuto said, “I think it’s becoming broader and deeper. The India and European Union are two large democratic spaces. India is the fifth-largest world economy by nominal GDP. European Union is the world’s largest trade bloc, so they’re obviously bound to interact.”

The EU’s Ambassador to India also congratulated India for successfully hosting the G20 Summit under its presidency.

“I agree that the launch of the India-Middle East Europe-Economic-Corridor is very significant indeed. It’s about infrastructure, which is sustained, sustainable socially, but also fiscally, and which is implemented in a transparent and inclusive fashion,” he added.

“We have a number of players coming together in order to ensure that our vision for infrastructure is based on these principles. And as you will have seen, this memorandum is about infrastructure in a broad sense. It’s about railways. It’s about digital connectivity. It’s about facilitating trade,” Astuto also said, adding, “So I think it’s a very significant step.”

On his expectations on India-EU ties, Astuto said that he expects the strategic partnership to grow even further.  (ANI)

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India, EU start carbon tax talks

India wants to use the clause of equivalence existing in Carbon Border Adjustment Mechanism to get the carbon taxes already embedded in the country’s taxation system recognised…reports Asian Lite News

European Union and India are set to begin a series of consultations on concerns regarding implementation of the Carbon Border Adjustment Mechanism (CBAM). The CBAM transitional phase starts in just two weeks and the discussion process, starting on Thursday through a video meeting, is aimed at reaching an understanding on issues such as possible equivalence of carbon credit trading systems, verification processes, compliances, and application of the ‘common but differentiated responsibilities’ principles.

“One of the first discussions that the EU is starting with a trading partner on CBAM is with India because of its status as a trusted partner, especially on account of the ongoing free trade agreement negotiations. It agreed that in CBAM there are teething issues which could be sorted out through discussions,” an official said.

The CBAM is a policy tool being used by the EU to put a “fair” price on carbon emitted during the production of certain items identified as carbon-intensive when they are imported into the bloc from non-EU countries. This will be in the form of higher import levies which will be applicable from January 2026. To begin with, it will apply on cement, iron and steel, aluminium, fertilisers, electricity and hydrogen.

In India, the hardest hit sectors could be iron & steel and aluminium, which may end up paying 20-35 per cent additional import levies, per a report by Delhi-based research body Global Trade Research Initiative.

“There is a lot of nervousness amidst exporters of iron & steel and aluminium on CBAM. The Indian government wants to bring its own systems in sync with that of the EU so that by 2026 the Indian industry is in a better position to meet the CBAM requirements,” the official said.

Commerce Department officials will participate in the talks with the EU officials.

India wants to use the clause of equivalence existing in CBAM to get the carbon taxes already embedded in the country’s taxation system recognised. “The EU’s equivalence clause could mean that if a country is already charging its industry some amount of carbon tax, such as India’s taxes on petroleum and coal, then that can be recognised while calculating the carbon tax on an exporter from that country,” the official said.

Additionally, with the Bureau of Energy Efficiency under the Ministry of Power coming up with its carbon credit trading system, a proposed system equivalence can be reached with the EU’s Emissions Trading System (ETS), the official said.

India also has concerns around data protection. “Under CBAM, a lot of information on products and processes will need to be shared. These would include sensitive information about business practices that can’t be revealed to third parties as it could hurt a company’s competitive advantage. India would need clarity on what be the integrity of data protection around CBAM,” the official said.

The CBAM’s transitional phase, which is starting from October 1, will only require traders to report the emissions embedded in their imports without paying any financial adjustment. The European Commission has already extended a helping hand to Indian exporters to make them understand the reporting regulations through six webinars, one each on the affected sectors.

In its discussion with the EU, India will also insist that the principles of common but differentiated responsibility (CBDR), which is also part of the Paris Agreement on climate change, be followed while calculating taxes under CBAM, the official added.

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Poland Urges EU to Extend Ukrainian Grain Import Ban

In May, the European Commission imposed a ban on grain exports from Ukraine to Poland and four other European countries. The restrictions are due to expire on September 15…reports Asian Lite News

Poland will continue to ban imports of grain from Ukraine even if the European Union does not extend its embargo beyond September 15, Polish Prime Minister Mateusz Morawiecki’s office has said.

The government “calls on the European Commission (EC) to extend the ban on grain imports from Ukraine after September 15, 2023. Otherwise, Poland will independently introduce such a ban at the national level”, Xinhua news agency reported, citing a statement from the office.

Such ban concerns the imports of four agricultural products: wheat, corn, rapeseed and sunflower seeds, it said.

In May, the European Commission imposed a ban on grain exports from Ukraine to Poland and four other European countries. The restrictions are due to expire on September 15.

“The Polish government does not accept a situation in which the Polish market is destabilized by Ukrainian grain,” the prime minister’s office said. 

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Inflation Eases, but Economic Growth Slows in EU, Eurozone

EU flags are seen outside the European Commission in Brussels, Belgium, Jan. 6, 2023.(Xinhua/Zheng Huansong/IANS)

Eurozone inflation in 2023 is projected to reach 5.6 per cent, compared with 5.8 per cent projected in spring; and 2.9 per cent in 2024 instead of 2.8 per cent forecast in spring…reports Asian Lite News

The European Commission has cut the European Union’s (EU) and the eurozone’s 2023 economic growth forecast.

“While (the EU) avoided a recession last winter, the multiple headwinds facing the EU economy this year have led to somewhat weaker growth momentum than we projected in the spring,” Paolo Gentiloni, European commissioner for economy, said on Monday as he presented the EU’s “Summer 2023 Economic Forecast”.

The Commission has revised its spring growth forecast downwards. It now expects the EU’s gross domestic product (GDP) to increase by 0.8 per cent in 2023 (1 per cent in spring estimates), and by 1.4 per cent in 2024 (1.7 per cent in spring), Xinhua news agency reported.

The projected growth of the eurozone has also been revised to 0.8 per cent in 2023 from 1.1 per cent; and to 1.3 per cent in 2024 from 1.6 per cent.

Headline inflation should continue to decline. The average inflation rate in the EU for 2023 should reach 6.5 per cent, instead of the 6.7 per cent foreseen in spring. The rate should go down to 3.2 per cent next year (3.1 projected in spring).

Eurozone inflation in 2023 is projected to reach 5.6 per cent, compared with 5.8 per cent projected in spring; and 2.9 per cent in 2024 instead of 2.8 per cent forecast in spring.

The EU’s economic activity was subdued in the first half of 2023. “Weakness in domestic demand, in particular consumption, shows that high and still increasing consumer prices for most goods and services are taking a heavier toll than expected in the Spring Forecast,” the report said.

Indicators now point to slowing economic activity in the summer and the months ahead, with continued weakness in industry and fading momentum in services, despite a strong tourism season in many parts of Europe.

Overall, the weaker growth momentum in the EU is expected to extend to 2024, and the impact of tight monetary policy is set to continue to restrain economic activity. However, a mild rebound in growth is projected for next year, as inflation keeps easing, the labor market remains robust and real incomes gradually recover.

“The very high inflation rate has taken its toll, although it is now receding. After a period of weakness, growth is expected to rebound mildly next year, underpinned by a strong labour market, record low unemployment and easing price pressures,” Valdis Dombrovskis, the Commission’s executive vice president for an economy that works for people, said.

“While our economy remains on a path of growth, uncertainty remains high and we need to monitor risks closely,” Dombrovskis said.

According to Gentiloni, “the effective implementation of national recovery and resilience plans remains a key priority. Prudent, investment-friendly fiscal policies should be pursued, in sync with the ongoing efforts of our central banks to tame inflation.”

“Lastly, we must work with determination to conclude an agreement on the reform of our fiscal rules by the end of the year,” said Gentiloni.

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India is Turkey’s greatest trade partner in South Asia, says Erdogan

Erdogan on Friday arrived in New Delhi for the G20 Summit. He was accompanied by his wife, the first lady of Turkey Emine Erdogan…reports Asian Lite News

Turkish President Recep Tayyip Erdogan on Sunday said India is Turkey’s greatest trade partner in South Asia and the two countries have great potential in the field of economy.

“India is our greatest trade partner in South Asia. And we have great potential to enjoy primarily in the field of economy and many others…” the Turkish President said at a press conference on Sunday.

The Turkish President then thanked India for “a gracious and very successful term of presidency”.

He expressed gratitude to Prime Minister Narendra Modi for the hospitality shown to him, his wife and the entire Turkish delegation.

“I would like to thank PM Modi for the gracious hospitality that was shown to me, my spouse and my entire Turkish delegation,” he said.

He further said: “This year, our theme was one world, one family and one future. And within the first session of the summit, we talked about the environmental challenges that our planet currently encounters. Climate change, the loss of biological diversity and especially there is the dimension of extensive pollution is a trio of challenges which we can feel even more profoundly now…”

The Turkish President further said that any initiative that isolates Russia is bound to fail.

“Its success is a very little possibility. We believe that any step that may escalate the tensions in the Black Sea should be avoided… In order to support global food security and food supply security, we are going to bring together the Food Supply Security Study Group, both Russia, and Ukraine, as well as the United Nations, and with our stakeholders coming from the international community, we are going to have continuous talks…” he said.

Erdogan on Friday arrived in New Delhi for the G20 Summit. He was accompanied by his wife, the first lady of Turkey Emine Erdogan.

He was received by Shantanu Thakur, Minister of State for Ports, Shipping and Waterways of India.

Meanwhile, Prime Minister Narendra Modi on Sunday announced the conclusion of the G20 Summit in New Delhi and proposed to hold a virtual G20 session in November to review the suggestions and proposals made at the premier forum for international economic cooperation.

“As you all know India has the responsibility of G20 presidency till November 2023. In these two days, all of you gave a lot of suggestions and placed proposals. It is our duty to see how faster progress can be achieved on these,” PM Modi said.

“I propose that at the end of November, we hold a virtual session of G20. We can review the topics decided in this Summit, in that virtual session. I hope you all will connect in the virtual session. With this, I declare the conclusion of the G20 Summit,” he added.

Before declaring that the summit had ended, PM Modi handed over the ceremonial gavel of the Group of 20 presidency to Brazil President Luiz Inacio Lula da Silva.

“I congratulate the Brazilian President and my friend Lula da Silva and hand over the gavel of Presidency,” PM Modi said. (ANI)

‘Any effort to isolate Russia is bound to fail’

As the Delhi G20 leaders summit called for the immediate revival of the Black Sea grain initiative to ensure that developing and least developed countries, particularly those in Africa, don’t suffer, Turkiye President Recep Tayyip Erdogan on Sunday said that any initiative to isolate Russia is bound to fail.

Addressing reporters after meeting Prime Minister Narendra Modi after the culmination of the G20 summit, he said: “We believe that any initiative that isolates Russia is bound to fail. Its success is a very little possibility. We believe that any step that may escalate the tensions in the Black Sea should be avoided. In order to support the global food security, food supply security, we are going to bring together the Food Supply Security Study Group, both Russia, Ukraine, as well as the United Nations, and with our stakeholders coming from the international community, we are going to have continuous talks.”

Following an earlier-than-anticipated arrival of a consensus, the Delhi Declaration, adopted at the summit, said that the G20 called for the “full, timely and effective implementation” of the MoU between Russia and the UN on promoting Russian food products and fertilisers to world markets and the Initiative on the Safe Transportation of Grain and Foodstuffs from Ukrainian Ports, or the Black Sea Initiative.

“In this context, emphasising the importance of sustaining food and energy security, we called for the cessation of military destruction or other attacks on relevant infrastructure,” it said.

On July 17, Russia had said that it would be revoking its involvement in the agreement that allowed grain to be moved from Ukraine to Africa and Asia to tackle the food crisis caused by the war, which pushed up prices to eye-watering levels.

Russia had said that it will honour the deal after “the part of the Black Sea deal related to Russia is implemented”.

Meanwhile Erdogan thanked India, saying: “I thank India for a gracious and very successful term of presidency. I would like to thank PM Modi for the gracious hospitality that was shown to me, my spouse and my entire Turkish delegation. This year, our theme was one world, one family and one future. And within the first session of the summit, we had talked about the environmental challenges that our planet currently encounters. Climate change, the loss of biological diversity and especially there is the dimension of extensive pollution is a trio of challenges which we can feel even more profoundly now.”

“India is among our greatest trade partners in Asia and there is huge potential to this partnership,” he added.

On the proposed India-UAE-Europe economic corridor, Erdogan said: “Regarding the corridor, as far as our work regarding the corridor is concerned, first of all, the Gulf countries are included in it. Iraq is also part of it. And opening up a corridor through Turkey would mean the following taking up the Gulf and opening it up all the way into Europe and tying it all the way into Europe.

“Now, regarding such a corridor, particularly United Arab Emirates, Iraq and Turkey are acting sensitively and in a fast manner. We hope to be able to implement this project. We’re working on it, and as we speak, our ministers of foreign relations and ministers of transportation work together. And we will try and work to be able to implement this in the coming couple of months.”

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Modi, EU Leaders Explore Trade and Technology Collaboration

European Commission President also highlighted the Free Trade Agreement and said, “We also look forward to progress on a Free Trade Agreement…reports Asian Lite News

Prime Minister Narendra Modi met European Council President Charles Michel and EU President Ursula von der Leyen on Sunday on the sidelines of the G20 Summit in the national capital.
Both visitors congratulated the Prime Minister on the success of India’s G20 Presidency.

They held a discussion on various aspects of the India – EU Strategic Partnership, including the next India – EU Summit, ongoing Free Trade Agreement negotiations, climate change and LiFE, digital technology, and Trade and Technology Council (TTC).

The leaders also discussed the India- Middle East- Europe Economic Corridor that was launched on 9 September 2023. They felt that there should be expeditious implementation of the Corridor.
PM Modi also highlighted the possibilities of solar projects under the Corridor. Earlier today, the European Commission President said that a strong partnership with India is paramount for Europe.
She also shared her delight at the launch of the India-Middle East-Europe Economic Corridor.

Taking to her social media ‘X’, Ursula tweeted, “Thank you for your skillful leadership of the G20, @narandramodi. A strong partnership with India is paramount for Europe. Glad to see our Trade & Tech Council in action. And to have launched with you an historic project, the India – Middle East – Europe Economic Corridor.”

European Commission President also highlighted the Free Trade Agreement and said, “We also look forward to progress on a Free Trade Agreement. This would unlock the great potential in our partnership.”
European Commission President Ursula von der Leyen called the new economic corridor “historic” and said that these are state-of-the-art connections for the world of tomorrow, faster, shorter and cleaner.
India, the United States, Saudi Arabia and the European Union on Saturday announced a historic agreement to soon launch a mega India-Middle East-Europe shipping and railway connectivity corridor.

India and the EU have a common interest in ensuring security, prosperity and sustainable development in a multi-polar world. Both India and the EU agreed to further build on these convergences and foster new synergies for jointly contributing to a safer, greener, cleaner, more digital, resilient and stable world, in line with the 2030 Agenda for Sustainable Development and the Paris Agreement. The EU is India’s second-largest trading partner (after the US) and India’s second-largest export market. India is the EU’s 10th largest trading partner, accounting for 2 per cent of EU total trade in goods. Trade in services between the EU and India reached 40 billion euros in 2021. (ANI)

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Delhi declaration “stepping stone” for peace in Ukraine: EU

The official hopes that Brazil, which takes over the G20 presidency from India, will take forward the matter…reports Asian Lite News

The negotiations to arrive at the New Delhi declaration which was adopted by G20 leaders were “cumbersome” but it was in line with our discussions, said a European Union official familiar with the negotiations. The official said the EU was “satisfied with the text”.

The official praised the Indian leadership for its “wonderful job” and added that the New Delhi declaration was a “stepping stone” to bringing peace in Ukraine.

The declaration document which stated G20 countries will “unite” for a “just, and durable peace” in Ukraine will be helpful going ahead, the official added.

The New Delhi declaration adopted on Saturday, read, “We will unite in our endeavour to address the adverse impact of the war on the global economy and welcome all relevant and constructive initiatives that support a comprehensive, just, and durable peace in Ukraine that will uphold all the Purposes and Principles of the UN Charter for the promotion of peaceful, friendly, and good neighbourly relations among nations in the spirit of ‘One Earth, One Family, One Future’.”

The official hopes that Brazil, which takes over the G20 presidency from India, will take forward the matter.

Speaking on the Black Sea grain deal, the EU official said it was unfortunate that Russia did not hold on to the initiative. “We have not heard anything from Russia,” the official added.

The grain deal that had permitted Ukraine to export grain from its Black Sea ports a year ago, despite the ongoing war, to help alleviate a global food crisis, was terminated by Moscow recently, which claimed that the requirements for the extension had been disregarded.

The EU official also delved on the ambitious India-Middle East-Europe economic corridor. He said the work for the deal was on for some time, adding, it will be interesting going forward.

The corridor which will connect Europe with Asia is of “historic importance”, he added.

This initiative could be seen as an alternate supply chain in a completely evolved post-pandemic world order.

India is expected to gain significantly as it places India firmly on the route of trade flows from South East Asia to the Gulf, West Asia and Europe, giving India significant strategic and economic advantage, besides creating huge opportunities in the logistics and transportation sector. (ANI)

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