Sept. 9 (UPI) — The United States, the European Union, and seven other countries have announced the formation of a wide-spanning rail and shipping corridor connecting India, the Middle East, and Europe.
U.S. President Joe Biden signed the deal while at the G20 Leaders Summit in New Delhi, India. The agreement involves leaders from India, Saudi Arabia, the United Arab Emirates, France, Germany, Italy, and the European Union.
The deal aims to establish a system of ports, shipping routes, and rail corridors that will connect India to countries in the Middle East and Eastern Europe. Analysts see this initiative as a strategic move to counter China’s influence in the Middle East.
Biden referred to the deal as “a game-changing regional investment” during the joint announcement event. He thanked Indian Prime Minister Narendra Modi and Saudi Crown Prince Mohammed bin Salman for their involvement.
Although there is no specified timeline for the India-Middle East-Europe Economic Corridor, the leaders plan to discuss the project within 60 days.
“It is a green and digital bridge across continents and civilizations,” said European Commission President Ursula von der Leyen.
The corridor is expected to increase trade speed between India and Europe by 40%. Additionally, ports in Israel and Jordan will play a crucial role in the project.
The White House stated, “We aim to usher in a new era of connectivity with a railway, linked through ports connecting Europe, the Middle East, and Asia.” The corridor will prioritize the development and export of clean energy, including the establishment of undersea cables and the connection of energy grids and telecommunication lines.
Officials from the United States denied that this initiative is a direct competition with China’s Belt and Road Initiative, which focuses on financing and constructing transportation routes across Asia, Europe, and Africa.
Denial of responsibility! Vigour Times is an automatic aggregator of Global media. In each content, the hyperlink to the primary source is specified. All trademarks belong to their rightful owners, and all materials to their authors. For any complaint, please reach us at – [email protected]. We will take necessary action within 24 hours.
