G-7 Summit.
– Photo : Amar Ujala
Expansion
In a joint statement issued at the end of the summit of the G-7, a group of the world’s top seven industrial countries, commitment has been expressed to further promote the proposals of the India-West-Europe Economic Corridor (IMEC). The statement issued on Friday said that the G-7 is committed to an independent and free Indo-Pacific based on the rule of law. Along with this, it was said that the G-7 will promote important projects of the Global Partnership for Infrastructure and Investment (PGII) to develop transformational economic corridors for quality infrastructure and investment. These include the India-West Ethia-Europe Economic Corridor as well as the Lobito Corridor, Luzon Corridor, Middle Corridor.
The statement said that special emphasis will be laid on coordination and financing to give concrete shape to IMEC. Along with this, the EU Global Gateway, Great Green Wall initiative and Mattei Plan initiated by Italy for Africa will also be implemented. The India-West Asia-Europe Economic Corridor (IMEC) project envisages a huge road, rail and shipping system between Saudi Arabia, India, America and Europe to ensure connectivity between Asia, West Asia and the West. IMEC has been presented by like-minded countries as an initiative to gain strategic influence in front of China’s Belt and Road Initiative (BRI).
Supporting a fair international tax system
During this, Prime Minister Georgia Meloni said that the G-7 leaders have strongly supported a fair international taxation system through a global minimum tax base. A multilateral convention on global minimum tax is ready to be signed at the technical level. Now it is up to the countries to express their political will. Italy is in support of this. It is expected that it will be adopted soon.
Consensus reached on finding a solution to Europe’s refugee crisis
Earlier on Friday, the G-7 countries had agreed to find a solution to Europe’s refugee crisis. But, there is still confusion about its modalities. On the second day of the conference, Italian Prime Minister Giorgia Meloni presented the Linked to Africa solution to reduce the influx of refugees and migrants in European countries. Meloni, the host of the conference, has made the refugee crisis a major issue of discussion. She has a special interest in this subject because Italy is located on one of the major routes to enter the European Union for people fleeing war and poverty in Africa, the Middle East and Asia.