THE GEOPOLITICAL SIGNIFICANCE OF THE DEVELOPMENT ROAD IN IMEC'S FUTURE: AN ALTERNATIVE TO BELT AND ROAD PROJECT

At the 2023 G-20 Summit, the India-Middle East-Europe Economic Corridor (IMEC) project was introduced as a strategic initiative aimed at revitalizing regional trade and establishing alternative routes between the East and the West. Türkiye, on the other hand, has offered a new alternative to develop and diversify the IMEC project with its Development Road project. The aim of this study is to analyze the IMEC project, which has the potential to be an alternative to the Belt and Road Initiative (BRI), alongside the Development Road route within a geopolitical framework. In this context, the Development Road route, which may influence the future of the IMEC project, is comparatively analyzed based on dominance theories. Furthermore, potential geopolitical scenarios are evaluated, and policy recommendations are provided based on these evaluations. As a result, time and cost factors in commercial transportation between India and Europe constitute the major challenges faced by the IMEC project. Additionally, Israel's aggressive attitude towards Arab countries and Palestine stands out as another significant obstacle negatively affecting the IMEC project. On the other hand, the Development Road offers considerable economic advantages in trade routes compared to IMEC. However, ongoing political, sectarian, and military conflicts among the countries in the region pose substantial problems for the Development Road project.