I am delighted to present the latest report released last week by the Institute of International Economic Relations (IIER/ΙΔΟΣ), titled “IMEC Three Years On: Time for a Rethink and Necessary Adjustments?”. Co-authored by myself, Agni Zi, Spyros Zervos and Yorgos Tsakanikas, the study dives deep into the rationale behind the IMEC concept and its prospects amid the turmoil in the Middle East.

In a nutshell, we argue that:

 Cooperation between India and the EU holds considerable economic potential, as demonstrated by the FTA signed in early 2026. Other countries located between South Asia and Europe also stand to benefit from improved connectivity and trade integration. IMEC is not in a position to replace the principal Asia–Europe trade route through the Suez canal, but has the potential to become a meaningful complementary corridor.

 Significant geopolitical developments since late 2023 have inevitably affected the initial design. Paradoxically, however, while the construction of IMEC has become more challenging, it is much-needed precisely because of the instability and disruptions plaguing the Middle East.

 Three years on, IMEC’s objectives and implementation arrangements require further reflection. Rather than abandoning its original vision, IMEC should adapt to the volatile geopolitical setting by broadening its scope. In fact, it may have to consider evolving into IMEN, i.e. an India-Middle East-Europe Network – as either a trunk with branches extending from it or a lattice-like constellation of partnerships.

 Ultimately, despite the uncertainty regarding IMEC’s final configuration and construction timeline, the structural trends that inspired the initiative are unlikely to disappear. The strategic logic underpinning the IMEC concept will remain relevant over the years to come, but it is also clear that the project is in need of a rethink and substantial adjustments.

I truly hope the report will be of interest to you and any feedback from you will be highly appreciated:

https://idos.gr/wp-content/uploads/2026/09/IMEC-Report_14-9-2026-2.pdf

Kind regards, Plamen

Plamen Tonchev Head of Asia Unit Institute of International Economic Relations (IIER) & MERICS European China Policy Fellow

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